The troubled Aladdin hotel-casino filed
for Chapter 11 bankruptcy protection Friday as creditors stood poised to seize its slot machines and other equipment.

The move allows the Las Vegas Strip's newest resort to remain open while management reorganizes hundreds of millions of dollars of debt, company officials said.

The resort has been struggling ever since its opening about a year ago. The severe drop in Las Vegas tourism after the Sept. 11 terrorist attacks dealt the resort yet another blow.

The hotel-casino's debt has been estimated as high $753 million. Court papers showed a debt of $593 million.

Aladdin Gaming LLC will receive $9 million from the company's lending group to meet its short-term cash flow needs, officials said.

Creditors also expressed to the court a willingness to lend up to $41 million to keep the 2,567-room resort afloat.

"Today's speedy and positive response by the court is a heartening move forward for Aladdin," Aladdin spokesman Fred Lewis said in a statement.

"We will get about the business of reorganizing, mindful that we are part of a community and an industry that is feeling the effects of a national disaster," he said.

The resort faced the possible loss of its slot machines and other equipment if it didn't file a bankruptcy petition by Friday, according to lenders who had not been paid.

About 2,600 people work at the Aladdin; 500 were laid off after the terrorist attacks.