Morris, upset about the failed auction, said, "Sometimes it comes down to good luck and bad luck. I had nothing but bad luck. Someone is going to come in and run the Landmark and look like a genius." Forrest Woodward, who managed the casino for Davis, said, "This is just an obsolete gaming property that no one's interested in, considering the debt," which included $48 million; a portion of that was $10 million in unsecured claims. Davis' attorney predicted the Landmark would be closed for 100 days or more while creditors pursued a foreclosure sale. A week after the closure, Davis received permission from the U.S. bankruptcy court to abandon the property as trustee, due to the cost of maintaining security at the closed resort. Davis' attorney said it would cost between $60,000 and $200,000 each month to maintain the property. Creditors would be left to pay bills relating to the property until a foreclosure sale could take place. In December 1990, the property was purchased through a foreclosure sale by Lloyds Bank of London for $20 million. Lloyds Bank made the purchase in order to protect a $25 million loan it had made to Morris in 1988. By March 1993, the Landmark's contents had been liquidated through a sale conducted by National Content Liquidators.