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Black Hawk Abandons New Jersey Casino Purchase

BLACK HAWK, CO-Black Hawk Gaming & Development Co. Inc. has cut off talks to buy the Claridge Hotel & Casino in Atlantic City. The purchase simply doesn't fit into Black Hawk's growth plans, says the company president.

By John Rebchook | Updated on September 26, 2000

BLACK HAWK, CO-Black Hawk Gaming & Development Co. Inc. has cut off talks to buy the Claridge Hotel & Casino in Atlantic City. Black Hawk is a historic mining town about an hour west of Denver, where limited stakes gambling is permitted.

Stephen R. Roark, Black Hawk president, says his company has concluded that Claridge doesn’t fit into its growth plans, so it is abandoning talks and due diligence. He says he normally wouldn’t announce that he’s withdrawing from talks since he never formally announced they had begun. Because Claridge had publicly announced the purchase of Claridge, “we felt it necessary to announce that we presently have no interest in the property,” he says.

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