Revel Casino Resort
Among the many provisions included in the $110-million deal for Brookfield Property Partners to buy the closed Revel Hotel and Casino is a statement that the company is not necessarily tied to rehiring Revel workers.
Florida developer Glenn Straub, the only other major bidder in the auction, complained that the auction process, in its final hours, was rigged against him.
Reports indicate that developer Glenn Straub wants nothing to do with a casino, assuming the deal goes through in federal bankruptcy court. But what he might do with the $2.4-billion property is not clear.
Labor Day may not be much of a holiday for several thousand workers at the Showboat and Revel casinos in Atlantic City, both of which will be closing their doors. Mayor Don Guardian is hopeful for the town’s future.
“You’ll notice that some of the biggest names in show business are playing in the casinos almost every weekend — from Diana Ross, to the band Perry, to Hall and Oates,” says one Atlantic City promoter.
Revel president and CEO Scott Keegan says the casino-hotel is working toward financial stability. And, he adds, that does not include closing if ownership changes.
Hard Rock has filed paperwork with New Jersey gambling officials to get the ball rolling toward opening a casino in Atlantic City.
Revel casino’s revenue continued to increase in August but it’s still in eighth place among Atlantic City’s 12 casinos. Yesterday’s revenue report from the Division of Gaming Enforcement shows the industry is still struggling.
Atlantic City’s largest union is seeking to put a pair of referendums on the ballot that would appear to target the city’s newest casino.
Pop star Beyonce is adding a fourth concert at Atlantic City’s Revel casino resort, this one on May 28th.