Atlantic City Land Casino To Close
By Brian Cullingworth, Last updated Aug 15, 2014
No last-minute rescue for Revel
The owners of Atlantic City land casino Revel have announced that the establishment is to close on September 10…just two years after it opened.
"Despite the effort to improve the financial performance of Revel, it has not proven to be enough to put the property on a stable financial footing. This situation is compounded by the considerable non-controllable expense structure that has financially burdened the property," Revel said in a statement.
"In addition, challenges have arisen in our attempts to sell Revel as a going concern. While we continue to hope for a sale of Revel, in some form, through the pending bankruptcy process, Revel cannot avoid an orderly wind down of the business at this time," it added.
The closure will put 3,000 people out of work.
Revel is the third Atlantic City casino to recently announce an impending closure. New Jersey Gov. Chris Christie injected $260 million into Revel as part of a plan to revitalise Atlantic City amid competition from neighboring states.
Online Casino News Courtesy of Infopowa
Infopowa news was a staple of Casinomeister’s news from 2000 until 2019. Brian Cullingworth was the main writer, contributor, and was one of the most knowledgeable persons I have ever known involved in the online casino industry.
We first met in January 2001 at the ICE in London where I observed him going booth to booth interviewing online casino, software, and licensing jurisdiction representatives. Brian was also heavily involved with our forum as “Jetset“, he was involved as an informal consultant to eCOGRA, the OPA, and was a player advocate who assisted countless aggrieved players with his connections to industry folks. He also published “Casino Cautions” via Infopowa news for quite a number of years. These can be found in our news archives.
His passing in February 2019 was a dark day for us. He will be forever missed.
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