The bids were submitted for Revel Casino this week. The casino asked for an additional week to review what was submitted. Analysts think this does not bode well in terms of the offers that were made. No one submitted a bid that comes close to the amount of money that was spent to build
Revel. Revel also has a mountain of debt that must be factored into the sale. The good news is there is interest in the property and a strong possibility that the jobs at the casino will be spared.
I would love to see an operator with an online gaming vision win this bid. A new entry in the market would also be appropriate. This would give a fresh start to the Atlantic City landscape. A casino or hotel that is embracing technology while having the prudence of maintaining the current customer nucleus. Online Gaming will be the driving force that will make Revel become viable.
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| Good Luck to the winning bidder! |
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