Claridge Casino Takeover
The smallest casino in Atlantic City is now part of one of the biggest gaming corporations The Claridge was acquired by Park Place Entertainment.
On Wednesday May 30th the New Jersey Casino Control Commission approved the bankruptcy plan and acquisition, granting Claridge a three-year license that run concurrently with those of the three other local Park Place casinos.
The Claridge becomes the fourth properties under the Park Place banner joining Bally's Caesars, and the Hilton.
Billionaire, Carl Icahn who recently took over the Sands next door to the Claridge had made a bid for the property but lost out to Park Place.
The Claridge was the last independently operated casino in Atlantic City. The take over by Park Place reduces the number of Casino companies operating in Atlantic City to six. There were nine in 1998.
You can look for much remodeling and further improvements to the Claridge in the future.