Resorts and Trump Plaza were among five casinos offered Monday as choices in an online poll by Global Gaming Business about which Atlantic City property could be next to close. The others were Bally's, Revel, and Showboat.
The sale of the Atlantic Club to Tropicana Atlantic City Corp. and Caesars Entertainment Operating Co. for $23.57 million marks a new bottom in the value of an Atlantic City casino.
The previous low was $31.5 million for Resorts Casino Hotel in 2010.
Atlantic Club was valued at $513 million when it was sold to the current owner, Colony Capital L.L.C., in 2005.
Under the plan approved Monday, Atlantic Club will close Jan. 13, putting 1,600 employees out of work.
"It's not lost on me that a lot of people are losing their jobs. It's a sad thing," U.S. Bankruptcy Judge Gloria M. Burns said before approving the sale.
Tropicana agreed to pay $8.57 million for Atlantic Club's customer database, slot machines, and other casino equipment. Caesars is buying the real estate for $15 million.
Caesars said Saturday it did not intend to resume gaming or hotel operations at the property.
Atlantic Club was opened by Steve Wynn as the Golden Nugget in 1980.
Burns overruled objections by an attorney for Sobe Holdings L.L.C., whose $24.49 million bid topped the combined bid of Tropicana and Caesars, but was rejected on concern that Sobe might not be able to close the deal.
Sobe's attorney, David L. Braverman of Braverman Kaskey P.C. in Philadelphia, countered that the debt-laden Caesars was not a qualified bidder.
"They can't close," he said, arguing that Caesars' debt agreements should have precluded the deal.
Caesars has more than $20 billion in debt.
Burns said Sobe should have raised such issues last week during the two-day auction.