With the Hilton name removed and permission from the New Jersey Casino Control Commission to stay open, an Atlantic City casino now has some tough decisions to make.
The former Atlantic City Hilton will remain open for at least a year as part of a rescue plan that includes an investment from its L.A. owners and a deal with lenders. The casino has been searching for a buyer for two years.
Now, the Associated Press reports, about 150 employees have been laid off. All departments saw cuts as part of the saving effort, and $24.3 million in funds and a new name are meant to help the casino bounce back.