"We filed right after Sept. 11," said Tyri Squyres, a casino representative. "That just devastated us. Travel came to a halt, and occupancy was at all-time lows for everyone. Also, we're a single-entity, [so] we couldn't rely on other business like some multiple owners."

A few companies are reportedly vying for the ownership of the casino. However, only one has been announced publicly. The Aladdin Gaming Co. said it signed a purchase and sale agreement to sell to a joint venture between Robert Earl, the CEO and co-founder of Planet Hollywood; Bay Harbour Management LLC; and Starwood Hotels and Resorts Worldwide Inc.

Squyres said the joint venture has appointed Mike Mecca to be its president and CEO. Prior to his appointment to these positions, Mecca served as the general manager of Green Valley Ranch Casino & Spa.