The judge overseeing the Revel hotel bankruptcy in Atlantic City has decided that she can’t rule now on the $82-million offer from Florida developer Glenn Straub.
Despite Bad Report On Gaming Revenue In AC, Experts Suggest The Trend Should Turn Around In Year Ahead
Atlantic City’s casinos made less money again in the year gone by, according to figures released this week by the state of New Jersey.
Straub had offered $95 million for the Atlantic City property. A hearing is scheduled for Friday to consider the motion.
Sunday is the last day for gaming at the Showboat Casino in Atlantic City. Monday, Revel will close its hotel during the day and the casino overnight.
Roger Gros, who publishes Global Gaming Business magazine, believes next month’s scheduled auction in federal bankruptcy court will produce a new owner.
A national gaming analyst calls this a major win for online gaming in New Jersey.
The latest to enter the fray is a British company you’ve probably never heard of.
Revenue at Atlantic City’s casinos fell 8 percent in 2012, to just over $3 billion. It was the sixth straight annual decline.