this post was submitted on 23 May 2024
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I could have sworn Atari was bankrupt. Where'd they get the money to acquire anything?
Bankruptcy is intended to be (though is not often in actuality) a temporary restructuring period. A lot of companies just end up liquidating while under bankruptcy proceedings, but Atari emerged from Chapter 11 in 2014 after a year of restructuring and selling off IPs to pay their bills. Now they're doing a bunch of stuff, including casinos and hotels.
On one hand, that’s weird AF. On the other, I would definitely stay at (and probably steal towels from) the Hotel Atari.
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In the Video Game Business, it's not estranged to find video game companies doing casino things. Konami doing pachinko for example, which lead to them pissing a lot of their IPs off to pachinko machines that were themed.
Hell, Nintendo licensed to Konami to do Mario Roulette which is a medal game.
(Half of bankruptcy is restructuring/planning while the other half is liquidation. Either way, the goal is to have a clean-ish start in debt terms.)