Caesar's To Sell Atlantic City's Claridge To Fla. Hotel Co.

Law360, New York (October 30, 2013, 8:00 PM EDT) -- Caesar’s Entertainment Corp. on Wednesday announced plans for a Florida-based hotel operator to purchase one of its Atlantic City, N.J., hotel properties, which will exist solely as a hotel with no gambling facilities, according to a company statement.

Bally’s Atlantic City Hotel and Casino, owned by Caesar’s, issued the announcement on Wednesday, saying the 500-room Claridge Hotel Tower is being sold to Clearwater, Fla.-based hotel operators TJM Properties Inc. for an undisclosed sum. After closing, which is expected within 90 days, the Claridge will operate solely...
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