*
The Dark Side of Gambling Industry
Portfolio Manager, Zacks
The Las Vegas Strip features lavish resorts and dazzling lights. But that wasn't always the case. Many of the casino resorts went bankrupt before being restructured into bigger and better operations. Some failed properties were later replaced by new mega-resorts like the CityCenter which features Aria Resort & Casino, Vdara Hotel & Spa, ARIA, and Crystals retail mall (Please see: .) There are also plenty of offshore gambling sites that have taken a nose dive over the years.
The casino industry has its fair share of businesses that tried but failed to make it big in the gambling world. In fact, more than two dozen casinos have filed for Chapter 11 protection since 2000.
Many of these casinos have been located on the Las Vegas Strip. This isn't completely surprising considering that the market became heavily saturated during the late 1990s and early 2000s. Many casinos opened because credit was easy to get. But after the real estate bubble burst in 2007 and the credit markets froze up, it became difficult to secure funding.
Some of these casinos filed for bankruptcy because of mounting debt loads. Others went broke due to the national and global economies. Regardless, dozens of casino resorts have shut their doors forever.
We've produced a list of casinos that have filed for bankruptcy below. Some of these have closed their doors for good, while others were acquired or merged with another entity. We've included details about why they filed for Chapter 11 protection and whether or not they still operate. As you will see, most of the casinos that have gone through bankruptcy no longer exist.
List of Casinos that Have Gone Bankrupt
Laser Focus •
5 min read
1. Trump Taj Mahal (Atlantic City), Filed for Bankruptcy in 1990
This casino was doomed from the start. It cost $1 billion to build and Donald Trump did not have the funds to pay for it himself. He had to take out loans from 11 banks and even relinquished his casino division to save the Trump Organization. The Trump Taj Mahal finally declared bankruptcy in 1990 and cost creditors $500 million. Trump no longer owns this property and it currently operates as the Hard Rock Hotel and Casino.
Why Did Trump Taj Mahal Go Bankrupt?
The Trump Taj Mahal went bankrupt because it cost $1 billion to build and Donald Trump didn't have the funds to pay for it.
Current Status?: Operating as the Hard Rock Hotel and Casino
2. Bushnell On The Boardwalk (Atlantic City), Filed for Bankruptcy in 1992
This casino was once known as the Kiowa Casino before being renamed the Bushnell. It cost $250 million to construct and included 950 rooms, numerous restaurants, and entertainment venues. Like many other casinos in Atlantic City, the Bushnell On the Boardwalk struggled to stay afloat during the early 1990s. Revenues declined sharply in 1991 and Bushnell filed for Chapter 11 protection in May 1992.
Why Did Bushnell On The Boardwalk Go Bankrupt?
Revenue declines led to Bushnell filing for bankruptcy in 1992.
Current Status?: Closed in 1994 and torn down in 1999
3. Hilton Head Island Casino (South Carolina), Filed for Bankruptcy in 1992
Shareholders initially liked the idea of the Hilton casino because it was the first full service casino south of Washington D.C.. But they quickly changed their minds when they learned that the facility lost $4 million in 1991. The casino filed for Chapter 11 protection in March 1992.
Why Did Hilton Head Island Casino Go Bankrupt?
The Hilton casino went bankrupt in less than a year of operation due to high operating costs ($35 an hour vs. Biloxi's $6 an hour).
Current Status?: Closed in 1993 and turned into a bowling alley
4. Marina Las Vegas (Las Vegas), Filed for Bankruptcy in 1995
This casino cost $435 million to build and included 634 rooms. It was supposed to be one of the top attractions in Las Vegas but only lasted nine months without generating any profit. Shareholders approved a $375 million resort improvement plan in 1995, which forced the Marina to file for Chapter 11 protection. The property was sold to Mandalay Corporation soon after and is now the current site of the MGM Grand Hotel and Casino.
Why Did Marina Las Vegas Go Bankrupt?
The Marina Las Vegas filed for bankruptcy following a vote on a $375 million resort improvement plan.
Current Status?: Now known as MGM Grand Hotel and Casino
5. Castaway Cadino (Louisiana), Filed for Bankruptcy in 1995
The Castaway Cadino was originally supposed to open in the summer of 1994 but construction was delayed several times. It finally started accepting guests on April 8, 1995. Unfortunately the riverboat casino filed for bankruptcy just three months later.
Why Did Castaway Cadino Go Bankrupt?
The Castaway Cadido filed for bankruptcy three months after opening due to mounting debts from construction delays.
Current Status?: Closed in 1999 and destroyed by fire in 2000
Free Poker Online Games You Need to Try - Pokerlistings6. Dunes (Las Vegas), Filed for Bankruptcy in 1993 and 1999
The Dunes was the first casino that I ever stepped foot in and I still have the quarter I won all these years later. This property closed in May 1999 and filed for Chapter 11 protection twice -1993 to raise money for a $150 million expansion and -1999 because it could not compete with nearby casinos like Bellagio, MGM Grand, and Mandalay Bay. The Dunes was demolished in 2000 and made way for The Venetian.
Why Did Dunes Go Bankrupt?
Dunes filed for bankruptcy in 1993 and 1999 because it could not compete with newer casinos like Bellagio, MGM Grand, and Mandalay Bay.
Current Status?: Demolished in 2000 to make room for The Venetian
7. Bahamas Queen (Nassau, Bahamas), Filered for Bankruptcy in 1995
This casino operated on a cruise ship and sailed between Freeport and Nassau. It cost $150 million to build and featured four restaurants, five bars, a casino, night club, theater, swimming pool, and spa. The Bahamas Queen filed for Chapter 11 protection in November 1995.
Why Did Bahamas Queen Go Bankrupt?
There isn't enough information available to determine why the Bahamas Queen went broke.
No Deposit Bonus USA 2023 | Best No Deposut Bonuses for US PlayersCurrent Status?: Ceased operations in 1999 and sold for scrap metal in 2000
8. Ameristar Casino Hotel Kansas City (Missouri), Filed for Bankruptcy in 1999
Ameristar's stock rose almost 300% in 1995 following the announcement of its Kansas City casino. But the company encountered unexpected construction difficulties and the property racked up $450 million in debt. Ameristar filed for Chapter 11 protection in October 1999.
Why Did Ameristar Casino Hotel Kansas City Go Bankrupt?
Ameristar went bankrupt in 1999 due to $450 million in debt from unexpected construction difficulties.
Current Status?: Sold to Harrah's Entertainment for $283 million in 2003 and now operates as Harrah's North Kansas City
9. Landers Super Casino (Nevada), Filed for Bankruptcy in 2000
Landers Super Casino was the largest casino in the world when it opened in 1990. But it fell behind the competition because it failed to offer slots with ticket dispensers and video screens. Management decided to add this feature in 1999, but it cost $54 million and pushed the Landers Super Casino into bankruptcy.
Why Did Landers Super Casino Go Bankrupt?
Landers Super Casino went bankrupt in 2000 because management waited nine years to install slot machines with ticket dispensers and video screens.
Current Status?: Rebranded as Sun City Lincoln Hills in 2004
10. Sahara (Las Vegas), Filed for Bankruptcy in 2004
The Sahara filed for Chapter 11 protection in 2004 after carrying $680 million in debt. It received court approval to emerge from bankruptcy in December 2004 and remained open throughout the process. The Sahara was purchased by the Ricketts family in 2007, but was finally shuttered in 2015. The hotel was demolished in 2016 and the land is now home to the SaHara Las Vegas.
Why Did Sahara Go Bankrupt?
Sahara filed for bankruptcy in 2004 with $680 million in debt.
Current Status?: Replaced by the SaHara Las Vegas
11. Resorts International (Atlantic City), Filed for Bankruptcy in 2004
Resorts International was the first casino to open in Atlantic City back in 1978. It changed hands several times and racked up billions in debt. The property entered Chapter 11 protection in June 2004 and emerged 11 months later under the name Resorts Casino Hotel. The casino filed for bankruptcy again in .
Why Did Resorts International Go Bankrupt?
High levels of debt led to multiple bankruptcies for Resorts International.
Current Status?: Bought out of bankruptcy by Mohegan Sun in 2015 and is now known as Ocean Casino Resort
12. Club Mediterranean (Tunica Resorts), Filed for Bankruptcy in 2004
Club Mediterr AN (CM AN) was the first casino to open in Tunica Resorts in 1994. Occupancy rates plunged in the mid-1990s and CLM AN converted half of its rooms into a bingo hall and conference center. The parent company filed for bankruptcy in France in 2004 and the Tunica property followed suit seven months later.
Why Did Club Mediterranean Go Bankrupt?
Best FL Online Casinos + 3 Gambling FactsDeclining occupancy rates led to the parent company of Club Mediterr filing for bankruptcy in France.
Current Status?: Rebranded as Tunica Roadhouse Casino & Hotel
13. Commodore Casino (Atlantic City), Filed for Bankruptcy in 2006
Commodore Casino was originally known as the Commodore Hotels Corp and operated the Commodore and Barbary Coast casinos in Atlantic City. The company reported a net loss of $14.2 million in 2004 and things went downhill from there. Commodore filed for Chapter 11 protection in February 2006. The Barbary Coast was eventually shut down and the Commodore was sold to Caesars Entertainment.
Why Did Commodore Casino Go Bankrupt?
Commodore Casino filed for bankruptcy in 2006 due to mounting debt.
Current Status?: Now owned by Caesars Entertainment and operates as Caesars Atlantic City
14. Westward Ho (Las Vegas), Filed for Bankruptcy in 2000 and 2004
The Westward Ho filed for Chapter 11 protection in 2000 and again in 2004. It was never able to dig itself out of debt and was eventually bought by Colony Capital LLC. The property is now home to the Stratobetta Hotel, Casino & Spa.
Why Did Westward Ho Go Bankrupt?
There isn't enough publicly available information to determine why the Westward Ho went bankrupt twice.
Current Status?: Now known as the Stratosphere Hotel, Casino & Tower
15. Casino Windsor (Ontario), Filed for Bankruptcy in 2005
Casino Windsor is government-owned and operated. It filed for creditor protection in June 2005 because of a contractor dispute with PCL Construction. The casino paid the builder $20.4 million to complete the project, which allowed it to exit bankruptcy four months later.
Why Did Casino Windsor Go Bankrupt?
Casino Windsor went bankrupt in 2005 due to a contractor dispute with PCL Construction.
Status: Still open
16. Park Casino East Chicago (Indiana), Filed for Bankruptcy in 2007
The Park Casino opened in July 2006 and ran up $550 million in debt. Occupancy and revenue rates were much lower than expected and Horseshoe Hammond, which owned the casino, filed for bankruptcy six months after opening. The property was sold to Majestic Star for $30.3 million in 2012 and renovations began the following year. The Park Casino reopened in 2015 under the name Majestic Star Casino.
Why Did Park Casino Go Bankrupt?
The Park Casino filed for bankruptcy due to low occupancy and revenue rates.
Status: Now known as Majestic Star Casino
17. Pacific Casino (Mississauga), Filed for Bankruptcy in 2007
Pacific Casino was supposed to open in December 2006, but a construction worker was killed during the building process. An Ontario court launched an investigation and the developer declared bankruptcy in August 2007. The casino was completed by Great West Lifestyle and it opened in June 2008 under the name Casino Niagara.
Why Did Pacific Casino Go Bankrupt?
Free No Deposit Bonus Spins Casinos in Australia, 2023The developer of Pacific Casino declared bankruptcy following the death of a construction worker.
Status: Now known as Casino Niagara
18. Palm Beach Casino (Florida), Filed for Bankruptcy in 2007
Palm Beach Aero Club operated this casino from 2003 to 2007. It filed for Chapter 11 protection after running up millions in debt. The city took control of the casino in November 2007 and hosted a final poker tournament on January 13, 2008.
Why Did Palm Beach Casino Go Bankrupt?
Palm Beach Casino filed for bankruptcy due to mounting debt.
Status: Closed
19. California Palace of the Legion of Honor (California), Filed for Bankruptcy in 2008
This casino was once known as the Palm Garden Hotel and Resort Casino. It changed ownership several times and filed for bankruptcy in May 2008. The casino reopened in 2013 after going through a major renovation.
Why Did California Palace of the Legion of Honor Go Bankrupt?
There isn't enough publicly available information to determine why the California Palace of the Legion of Honor went bankrupt in 2008.
Current Status?: Now known as Hermosa Inn
20. Bay Meadows Race Course (California), Filed for Bankruptcy in 2008
Bay Meadows Race Course held its last horse race in June 2008 and filed for bankruptcy two months later. The property was sold to Stockbridge Capital Group and Magellan Development in 2010. Stockbridge and Magellan planned to build 4,100 homes at the location, but San Mateo voters approved a measure in November 2014 to turn the land into a mixed-use development known as San Mateo Gardens.
Why Did Bay Meadows Race Course Go Bankrupt?
Bay Meadows Race Course filed for bankruptcy after holding its last horse race in June 2008.
Status: Being developed into a housing community called San Mateo Gardens
21. Atlantic Casino & Lolita's Nightclub (New York), Filed for Bankruptcy in 2008
The Atlantic Casino and Lolita's Nightclub filed for Chapter 11 protection in September 2008. The property was later sold to Seneca Gaming Corporation, which tore it down and built the Seneca Niagra Allegany Resort & Casino.
Best Mississippi Casinos Worth Visiting Near JacksonWhy Did Atlantic Casino & Lolita's Nightclub Go Bankrupt?
There isn't enough publicly available information to determine why the Atlantic Casino & Lolita's Nightclub went bankrupt in 2008.
Status: Replaced by the Seneca Niagra Allegany Resort & Casino
22. Crown Center South (Texas), Filed for Bankruptcy in 2008
Crown Center South was supposed to open in 2007, but its launch date was pushed back several times. The casino finally accepted its first bets in March 2008. Unfortunately Naskila Entertainment Center, which owned the property, filed for Chapter 11 protection six months later. The facility emerged from bankruptcy in November 2009 and is still open today.
Why Did Crown Center South Go Bankrupt?
Delays pushing back the launch date contributed to the Crown Center South filing for bankruptcy.
Status: Still Open
23. Resorts East Chicago (Indiana), Filed for Bankruptcy in 2009
American Casino & Entertainment purchased the former Park Casino East Chicago in 2007 and spent $70 million to open Resorts East Chicago in January 2009. The property filed for Chapter 11 protection seven months later after carrying $535 million in debt. Resorts East Chicago was later sold to Majestic Star for $32.4 million and has been renovated. The facility reopened in 2015 under the name Majestic Star Casino.
Why Did Resorts East Chicago Go Bankrupt?
Resorts East Chicago carried $535 million in debt and filed for bankruptcy six months after opening.
Status: Now known as Majestic Star Casino
24. Showboat (Atlantic City), Filed for Bankruptcy in 2009
MGM Resorts bought the Showboat for $23.4 million in 1997 and invested very little into the property. Occupancy rates at the lighthouse-themed hotel plummeted and it was shut down in May 2007. The Showboat was revamped and reopened eight months later, but it couldn't dig itself out of debt. MGM Resorts placed the Showboat in bankruptcy in April 2009 and the property was eventually sold to Caesars Entertainment.
Why Did Showboat Go Bankrupt?
Low occupancy rates led to the Showboat filing for bankruptcy in 2009.
Status: Now known as Ocean Casino Bretton Woods
25. Hollywood Casino at Charles Town Races (West Virginia), Filed for Bankruptcy in 2009
Magna Entertainment, a subsidiary of Dalrada Financial Services, bought the racetrack and launched Hollywood Casino in August 2007. Occupancy and revenues were significantly lower than expected and the parent company filed for bankruptcy in April 2009. Penn National Gaming later bought Magna for $23.4 million and exited bankruptcy in July 2009.
Why Did Hollywood Casino at Charles Town Races Go Bankrupt?
Parent company Magna Entertainment filed for bankruptcy due to lower than expected occupancy and revenues.
Status: Still Open
Most Popular Casino Games in the UK (2023)26. Atlantic Casino & Lorenzo's Clubhouse (New York), Filed for Bankruptcy in 2009
The Seneca Gaming and Entertainment Corporation opened these two casinos in August 2009. The Seneca Nation argued that the casinos were built on their territory and launched a blockade that disrupted supplies and forced the Seneca Gaming and Entertainment Corporation to declare bankruptcy in October 2009. The Nation and Seneca Gaming came to an agreement in May 2010 and the casinos reopened shortly thereafter.
Why Did Atlantic Casino & Lorenzo's Clubhouse Go Bankrupt?
The Seneca Nation blocking supplies forced the Seneca Gaming and Entertainment Corporation to file for bankruptcy in 2009.
Status: Still Open
27. Capital Casino (Ohio), Filed for Bankruptcy in 2009
The owner of Capital Casino filed for personal bankruptcy in 2007 and the property followed suit two years later. The facility was later sold to JACK Entertainment and rebranded as JACK Cincinnati Casino.
Why Did Capital Casino Go Bankrupt?
The capital casino was indirectly bankrupted by the owner filing for personal bankruptcy in 2007.
Status: Now known as JACK Cincinnati Casino
28. Argosy Casino Alton (Illinois), Filed for Bankruptcy in 2009
Penn National Gaming bought the Argosy Casino Alton in 2008 for $30.6 million. The property generated a net loss of $2.6 million in the third quarter and Penn National announced a plan to sell the Argosy Casino Alton in late 2009. The casino filed for bankruptcy in November 2009 and was later sold to Century Casino & Hotel Corporation for $22.5 million.
Why Did Argosy Casino Alton Go Bankrupt?
The Argosy Casino Alton generated a $2.6 million net loss in Q3 2009 and its parent company put it up for sale.
Status: Now known as Century Casino and Hotel
29. Trump Plaza (Atlantic City), Filed for Bankruptcy in 2009
Donald Trump opened the Trump Plaza in 1984 and sold the property to Harrah's Entertainment in 2001. Harrah's later merged with Caesars Entertainment and the Trump Plaza was shuttered in June 2001. The property was fully demolished in late 2014 and the site is now empty.
Why Did Trump Plaza Go Bankrupt?
Trump Plaza was ultimately bankrupted by its merger with Harrah's Entertainment and subsequent acquisition by Caesars Entertainment.
Status: Demolished
30. Tropworld (Singapore), Filed for Bankruptcy in 2009
Tropworld was the second largest casino in the world when it opened in 1994. Revenue dropped considerably after the opening of Marina Bay Sands and Resorts World Sentosa, so Genting decided to close Tropworld in January 2009. The casino filed for liquidation in September 2009.
Why Did Tropworld Go Bankrupt?
Tropworld competed against two larger casinos, which ultimately lead to its demise.
Status: Closed and being replaced by a new integrated resort
31. Delaware Park Racing & Slots (Delaware), Filed for Bankruptcy in 2009
Great Forest Enterprises opened Delaware Park with historical racing machines in 2009. The property filed for Chapter 11 protection that same year after carrying $54 million in debt. Delaware Park emerged from bankruptcy in November 2010 and is still open today.
Why Did Delaware Park Racing & Slots Go Bankrupt?
Delaware Park Racing & Slots went bankrupt due to $54 million in debt.
Status: Still Open
32. Presque Isle Downs & Casino (Pennsylvania), Filed for Bankruptcy in 2010
MAG Peru, Inc operated Presque Isle Downs & Casino from 2007 to 2010. The company filed for Chapter 11 protection in May 2010 after accumulating $313.6 million in debt. The casino emerged from bankruptcy in October 2010 and changed ownership several times. It is now known as The Meadows Casino & Racetrack.
Why Did Presque Isle Downs & Casino Go Bankrupt?
Presque Isle Downs & Casino filed for bankruptcy due to $313.6 million in debt.
Status: Now known as The Meadows Casino & Racetrack
33. Luxury Casino Coeur dAlene (Idaho), Filed for Bankruptcy in 2010
Luxury Casino Coeur dAlene was the first full-scale casino in northern Idaho. ITG Coeur dAlene, which owned the property, filed for Chapter 11 protection in June 2010 after carrying $39.6 million in debt. The casino emerged from bankruptcy in November 2011 and was later sold to Richmond American Financials.
Why Did Luxury Casino Coeur dAlene Go Bankrupt?
Casino Hacks You Can Use Right Now - #7 & #9 Are My FavouriteLuxury Casino Coeur dAlene's owner ITG Coeur dAlene filed for bankruptcy due to $39.6 million in debt.
Status: Now known as Tamarack Junction Casino
34. Emerald Queen Casino (Washington), Filed for Bankruptcy in 2010
Emerald Queen Casino was supposed to open in May 2009, but the property was launched four months later because of construction delays. The EQC Holdings, Inc, which owned the facility, filed for Chapter 11 protection in August 2010 after racking up $238.1 million in debt. The casino emerged from bankruptcy in December 2010.
Why Did Emerald Queen Casino Go Bankrupt?
EQC Holdings, Inc filed for bankruptcy due to $238.1 million in debt.
Status: Still Open
35. Hollywood Casino at Charlestown Races (Indiana), Filed for Bankruptcy in 2011
Centaur Gaming & Racetrack opened this casino in September 2011. Occupancy and revenues were lower than expected and Caesars Entertainment agreed to buy the property in late 2011. Centaur Gaming filed for bankruptcy in November 2011 and the sale to Caesars was finalized in January 2012.
Why Did Hollywood Casino at Charlestown Races Go Bankrupt?
Lower than expected occupancy and revenues led to Centaur Gaming filing for bankruptcy in 2011.
Status: Still Owned by Caesars Entertainment
Palms Casino (Closed) - An Honest Review and Exclusive Bonus Offer36. Water's Edge Casino & Resort (Iowa), Filed for Bankruptcy in 2011
Prairie Flower Casino & Hotel opened as Water's Edge Casino & Resort in 2010. The Murphy Company, which operated the casino, filed for Chapter 11 protection in November 2011. The property was later sold to Ameristar Casinos and emerged from bankruptcy in March 2012.
Why Did Water's Edge Casino & Resort Go Bankrupt?
Water's Edge Casino & Resort was operated by a company that filed for bankruptcy in 2011.
Status: Now known as Horseshoe Council Bluffs Casino
37. Susquehanna Downs (Pennsylvania), Filed for Bankruptcy in 2011
Susquehanna Downs opened in 2010, but the property shut down in November 2011 because of financial issues. The casino filed for Chapter 11 protection in January 2012 and emerged from bankruptcy later that year. Susquehanna Greens, which bought the casino, later changed the name to Mount Airy Casino Resort.
Why Did Susquehanna Downs Go Bankrupt?
Financial issues forced Susquehanna Downs to file for bankruptcy in 2012.
Status: Now known as Mount Airy Casino Resort
38. Caesars Atlantic City (New Jersey), Filed for Bankruptcy in 2011
Harrah's Entertainment acquired Caesars Atlantic City in 2000 and later merged with Caesars Entertainment. The property was later sold to Colonial Investments in 2010, but Caesars sued the buyer because it missed a $34.2 million payment. Caesars Atlantic City was placed in bankruptcy in January 2011 and emerged from Chapter 11 protection in October 2012. The casino was later sold to Vici Properties and is still open today.
Why Did Caesars Atlantic City Go Bankrupt?
Caesars Atlantic City was put into bankruptcy because the buyer missed a $34.2 million payment.
Status: Now owned by Vici Properties
39. Kentucky Cup Performance Racing (Kentucky), Filed for Bankruptcy in 2011
Kentucky Cup Performance Racing operated a casino in Franklin that launched in 2010. The property filed for Chapter 11 protection in February 2011 because of $50-$60 million in debt. Kentucky Cup Performance Racing emerged from bankruptcy in June 2011 and was later bought by Central Kentucky Racetrust, Gaming and Historical Organizations Ltd.
Why Did Kentucky Cup Performance Racing Go Bankrupt?
The Kentucky Cup Performance Racing casino filed for bankruptcy because of $50-$60 million in debt.
Status: Now known as Frankfort Plantation
40. Rising Star Casino (Ohio), Filed for Bankruptcy in 2012
Midwest Gaming & Entertainment, which operated Rising Star Casino, filed for Chapter 11 protection in April 2012. The casino generated $16.6 million in revenue during the first quarter of 2012, down 33.2% from the previous year. Rising Star Casino emerged from bankruptcy in October 2012 and was later purchased by Full House Resorts.
Why Did Rising Star Casino Go Bankrupt?
Rising Star Casino's operator Midwest Gaming & Entertainment filed for bankruptcy in 2012.
Status: Now known as Aurora Casino Resort & Hotel
41. Tropicana Atlantic City (New Jersey), Filed for Bankruptcy in 2013
Caesars Entertainment put Tropicana Atlantic City into bankruptcy in April 2013 so it could be sold to Icahn Enterprises. Tropicana Atlantic City emerged from Chapter 11 protection in October 2013 and is still owned by Icahn Enterprises.
Why Did Tropicana Atlantic City Go Bankrupt?
Tropicana Atlantic City was put into bankruptcy so it could be sold.
Status: Still Owned by Icahn Enterprises
42. Club Fortune Charitable Gaming Centre (Australia), Filed for Bankruptcy in 2013
Club Fortune Charitable Gaming Centre opened in 2012 and filed for administration in February 2013. The property was later sold to Skycity Entertainment Group in May 2013. Club Fortune reopened under the new owner in October 2013.
Why Did Club Fortune Charitable Gaming Centre Go Bankrupt?
Club Fortune Charitable Gaming Centre was forced to file for administration in 2013.
Status: Still Open
43. Island Resort & Casino (Wisconsin), Filed for Bankruptcy in 2013
Island Resort & Casino was built for $31.5 million and opened in 2013. The property filed for Chapter 11 protection in October 2013 because of $55 million in debt. Island Resort & Casino emerged from bankruptcy in December 2013 and is still owned by the Lac Vieux Desert Band of Lake Superior Chippewa Indians.
Best Casino Sign Up Bonuses in the UK (2023)Why Did Island Resort & Casino Go Bankrupt?
Island Resort & Casino filed for bankruptcy because of $55 million in debt.
Status: Still Owned by the Lac Vieux Desert Band of Lake Superior Chippewa Indians
44. Argosy Casino Alton (Illinois), Second Bankruptcy
Argosy Casino Alton emerged from its first bankruptcy in October 2010. The property was put up for sale in March 2013 and entered Chapter 11 protection that June because it failed to find a buyer. The casino was later sold to Century Casino & Hotel Corporation in November 2013.
Why Did Argosy Casino Alton File for Bankruptcy Again?
Argosy Casino Alton filed for bankruptcy for a second time because it couldn’t find a buyer.
Status: Now known as Century Casino and Hotel
45. Maryland Live! Casino & Hotel (Maryland), Filed for Bankruptcy in 2013
Anne Arundel County initiated a lawsuit against Maryland Live
