On November 6, 2013, RIH Acquisitions NJ LLC, owners and operators of the Atlantic Club Casino Hotel, filed for Chapter 11 Bankruptcy protection in the United States Bankruptcy Court for the District of New Jersey. The Atlantic Club Casino Hotel has 801 rooms, seven restaurants, an event space able to accommodate 1,600 people and 75,000 square feet of casino gaming space.
The Debtors attribute their financial difficulties to a weak Atlantic City market and competition from casinos in surrounding areas such as Pennsylvania, New York and Delaware. The Atlantic Club Casino Hotel is not the first Atlantic City casino to file for bankruptcy protection. Over the past six years half of the city’s twelve casinos have filed for Chapter 11 protection.
RIH Acquisitions estimates their liabilities to be between $10 million and $50 million. The Atlantic Club Casino Hotel is intended to remain operational throughout the bankruptcy process, but it is being reported that RIH Acquisitions will be seeking bids for the casino-hotel from potential buyers as soon as November 18th.
Jenny Kasen of Kasen & Kasen was mentioned in this month’s issue of the Barrister, published by the Camden County Bar Association. For Halloween Jenny Kasen organizes a pizza party at the Anna Sample House every year. The Anna Sample House is a temporary emergency shelter for 65 residents located in Camden, NJ. The facility accommodates single women and families. It provides 24 hour supervised housing, 3 meals a day, case management, emergency clothing, life skills workshops, drug and alcohol awareness, recreational enrichment, a referral network and child focused activities.
The article from the Barrister can be viewed below. Many thanks to Jenny Kasen for making this year’s event a huge success!
The Barrister Article
Earlier this year on June 18th Steven Brill gave testimony about the cost of health care to the United States’ Senate Committee on Finance. Prior to his testimony he decoded and examined medical bills at random for a special issue of TIME Magazine. Brill’s testimony consisted of a thorough accounting of his findings, over which his frustration is clearly evident. Through several anecdotal cases Brill was able to showcase the abysmally high cost of health care for Americans, whether they are insured, under-insured or have no insurance at all. In addition to this, Brill made it a point to place the focus on why the cost of health care is so high instead of who should pay for it. His testimony to the Committee on Finance and his article on the same topic in TIME Magazine are a must read for anyone interested in health care reform.
Steven Brill’s Testimony