Bad news for full-pay VP players...

The Claridge Casino Hotel Tuesday said Tuesday it will seek federal bankruptcy protection to help it survive.

The Chapter 11 filing will allow the Claridge to continue operating the
financially troubled casino while it restructures its debts and looks for an infusion of cash.

One gaming analyst said he expected the Claridge to stay in business this year and next, but felt its long-term future was bleak.

V,
I thought they entered bankruptcy several years ago. Guess they've been strugglin' for some time.

Beth: The way I understand it is that Claridge does not expect to pay the interest due August 2, 1999, on its First Mortgage Notes due 2002. That may have been money borrowed a couple of years? In addition, the Claridge indicated that it expects to file a voluntary petition under Chapter 11
during August 1999, to facilitate a financial restructuring.

I'll check with them when I go there in a few weeks <g>.

BTW, did you see the notes on AC...again from around July 25?

I guess the Claridge has the best VP inventory in AC, but there is something depressing about the place. I don't see any solution unless they pump more money into remodeling, and that'll be tough with the cash crunch.

I just never seen to have the personal interactions with the staffs of hotel/casinos in AC that help make Las Vegas and Reno so enjoyable. There's no human face to the Claridge that I can think of.

Dave: Hitting a RF at Claridge showed me just how happy the employees are capable of getting <g>.