Revel Atlantic City to declare bankruptcy

Discussion in 'Atlantic City' started by wanderer, Feb 23, 2013.

  1. wanderer

    wanderer Moderator

    Years in the making and opening to a big splash, the Revel Resort is the latest addition to the Atlantic City gaming scene. And it's declaring bankruptcy already! But plans are to remain open and operations are expected to go on an usual. It seems like it's more of a housecleaning issue for Revel Atlantic City and should get the debt taken care of.

    What do you think? Do you think Sandy impacted this?
  2. luky7

    luky7 New Member

    No, I don't think Sandy had anything to do with it. I'm not surprised Revel Atlantic City is going down the toilet...making it non-smoking and without a buffet isn't very clever when you consider that the immense majority of the hotel's customers would be middle class patrons.
  3. donOmarS

    donOmarS New Member

    I'm sure the Sandy storm did have an effect. Apparently, New Jersey state officials are going to be easing up gambling regulations as an incentive to keep MGM Resorts to stay put in Atlantic City. If MGM goes, that is it for Atlantic City, I reckon.
  4. wanderer

    wanderer Moderator

    Thanks for your insight on this. I heard a bunch of other resorts were in the works, but they didn't happen. It sounds like there's enough trouble as it is.
  5. ToliaJohn

    ToliaJohn New Member

    Revel Atlantic City will probably not be the last to file bankruptcy because noone is going to casinos in this economy, plus there's way too many casinos up in AC anyways. the place is turning into a bit of a slum that needs sorting out before Atlantic City itself goes caput.
  6. wanderer

    wanderer Moderator

    There was a time when Atlantic City was the only place where it was legal to gamble on the east coast. Now you can go to Foxwoods or head to one of the many casinos in PA. I wonder what Atlantic City will do to bring people there in the future.

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