Two more Atlantic City casinos may declare bankruptcy

There could soon be just six Atlantic City casinos in operation.

After Apollo Global Management won approval to transfer control of its Caesars customer loyalty program away from the company that owns the Bally’s and Caesars entities, the likelihood of those two casinos filing Chapter 11 vastly increased, one gaming analyst said.

If they file and no buyer emerges, the closing of the two would leave just six casinos in Atlantic City.

There were 12 at the beginning of the year.

The owner of Caesars and Bally’s, Caesars Entertainment, would like to avoid making the $250 million payment due its junior creditors in December, sources said.

The $4.5 billion in second-lien bonds fell by 1 cent on Monday, to 24 cents on the dollar.

“The bankruptcy is coming — no question,” the analyst added.