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.