The bankrupt division of Caesars Entertainment Corp. has asked a judge to approve the sale of property at the failed Harrah's Tunica Casino in Mississippi, which shut down last year amid tough local competition and a slump in gambling, Reuters reported yesterday. Casino operator Caesars Entertainment Operating Co., currently in chapter 11 with $18 billion of debt, had been trying to sell the Tunica casino for two years before eventually closing its doors. Stalking horse bidder TJM Properties Inc., a Florida real estate investment firm that develops senior living facilities, is seeking to buy the Tunica property for $3 million cash, bankruptcy filings showed. If Bankruptcy Judge Benjamin Goldgar approves the sale process, other interested parties must submit qualified bids by a final deadline of 4 p.m. CET on Oct 24. An auction, if needed, has been set for Oct. 28 and a hearing to approve the sale will be held on Nov. 2.
