Caesars Entertainment Operating Co. secured a bankruptcy judge’s permission to sell its Harrah’s Tunica Hotel & Casino in Mississippi as part of its chapter 11 restructuring, the Wall Street Journal reported today. Bankruptcy Judge A. Benjamin Goldgar yesterday signed off on the shuttered casino’s sale, for $3 million, to TJM Properties. Caesars canceled last week’s auction for the property after no rival bidders stepped forward to challenge TJM Properties’ offer. The buyer, which owns hotels and senior-living properties, acquired another closed casino, the Atlantic Club Hotel & Casino in Atlantic City, N.J., for $13.5 million last year.
