Casino Deal Scrapped: An investor group said...
Casino Deal Scrapped: An investor group said it has canceled plans to buy the ailing Claridge Casino Hotel in Atlantic City, N.J. Alfred J. Luciani, president of A.L.M. Moonstone Inc., said his group could not agree with Claridge officials “over money and time.” The deal was originally was scheduled to close Aug. 15, but Claridge officials said continued negotiations made it unclear whether it could close this year. The Claridge lost about $20 million in 1988 on revenue of $174.6 million. In June, Claridge Corp. took control of the casino hotel from Del Webb Corp. of Phoenix after completing a financial restructuring plan.
