$90 Million Bid for Closed Revel Casino in Atlantic City

It’s never easy for a broke, closed casino to be sold after having fired all of its employees and shown that it was practically impossible to make a profit in a city where the casino industry is going down fast.

 

It was still surprising to hear that the best offer for the $2.4 billion expensive Revel Casino and Hotel in Atlantic City, was a mere $90 million from the Polo North Country Club Inc. The bid is part of an auction running until midnight at September 23rd, where the bid would be accepted if it is going to be the highest.

 

It has not been said if Polo North would continue to run the Revel as both a casino and a hotel, but it is going to be difficult to not run a casino to make a profit in the hotel. Revel only stood for a couple of years before closing down, as the company ran directly into the economic crisis head on and couldn’t get out of it.

 

Within the next 10 days, it will be made public if the Revel was sold, to who and at what price. It will be interesting to see if any companies are still willing to invest in the troubled city or if the crisis has scared most away.

Daniel Allermand

Daniel Allermand is a freelance writer, with more than 4 years of experience in the industry as an operator, affiliate and poker player. Daniel has decided it was time to try and bring more coverage about the industry to the general public by writing articles about everything from poker to casino.  

Recent Posts

UK Gambling Commission issues a £6m fine to online operator Casumo

The UK Gambling Commission has issued a £6m (EUR 7.0m / USD 8.2m) penalty to online operator Casumo for severe…

3 weeks ago

Dutch Remote Gambling Act comes into force April 1

The Dutch Gambling Authority (Kansspelautoriteit/Ksa) expects that by October 1 this year, roughly 6 months from the enactment of the…

4 weeks ago

888 Holdings report a staggering 52% increase in revenue during 2020

Amidst a global pandemic, 888 Holdings has reported a staggering 52% increase in revenue during full-year 2020 to $849.7 million…

4 weeks ago

Playtech and Flutter shake hands on another 5 years

Playtech, a leading global gambling technology company, have announced the extension of their partnership with Flutter Entertainment for its Paddy…

4 weeks ago

Will FUN Token be on solid ground in iGaming?

FreeBitco.in, a large online (crypto) casino is ambitious and is looking to turn the FunFair (FUN)Token into the token of…

1 month ago

Has Swedish regulation failed?

Gustaf Hagman strongly believes so. In a recent interview with Gambling Insider, the LeoVegas Chief Executive Officer expressed his concern…

2 months ago