Caesars Entertainment To Acquire Non-gaming Assets Of Atlantic Club

(RTTNews) - Caesars Entertainment Corp.(CZR) confirmed that its subsidiary, Caesars Entertainment Operating Company Inc., has agreed to acquire the non-gaming assets of the Atlantic Club, including the real property, in a bankruptcy auction, pending approval of the bankruptcy court.

The Atlantic Club's gaming assets are being acquired by another buyer. The current owner of the Atlantic Club indicated it plans to close the facility January 13, 2014. Caesars expects to close on the purchase of the property thereafter.

Caesars said it does not intend to resume gaming or hotel operations at the facility, and is evaluating options for the use of the assets, some of which may be used in the company's other Atlantic City properties.