Atlantic City Casinos

A deal to sell the former Claridge Casino Hotel in Atlantic City to a Florida real estate firm has been completed.

Money flowing in from Internet gambling helped Atlantic City's casinos avoid what would have been a much worse month in January.

Talk about a royal flush!

Atlantic City's casino revenue has fallen below $3 billion for the first time in 22 years, as increasing competition in the northeastern U.S. continues to shrink the market.

Competitors are already picking at the soon-to-be-closed Atlantic Club Casino Hotel, trying to lure customers and employees to their own casinos.

The Atlantic Club Casino in Atlantic City, formerly the Golden Nugget, will be closing its doors for good on Jan. 13 after a ruling from a federal bankruptcy judge.

A slowdown brought on by the rapid proliferation of casino gambling in the northeastern United States claimed its first victim in New Jersey on Monday when a federal bankruptcy judge approved the sale and shutdown of Atlantic Club Casino Hotel in Atlantic City.

New Jersey is getting ready for Internet gambling with a flurry of activity this week.

Year-over-year revenues at Atlantic City's 12 casinos spiked by 3.6 percent in October, but that's mainly due to the fact that Superstorm Sandy forced the casinos to shut down a year ago.

Three Atlantic City casinos announced layoffs Thursday totaling 315 employees, although many were seasonal help who normally only work during the summer.