Revel Casino Closing in September

Revel Casino and Hotel is scheduled to close September 1. No qualifying offer was rendered for this beautiful facility. This does not seem real that the so call "savior" property of Atlantic City is now on life support. They're reports that they are entertaining offers but this seems like a straw clutching tactic.

 

I can only reflect  back to three years ago when Revel was taking applications. The thought of working in Atlantic City again was appealing but not enough to lure me from a good situation. Many of my peers thought otherwise and returned to the shore. I attended  the East Coast Gaming Congress at Revel that year and later that month saw Beyoncé perform at Ovation Hall.  The excitement  of that concert created a synergy through the entire region. Now this! I never saw this coming back then. I feel bad for the 3200 employees that are affected by the pending closing of the casino hotel.

Governor Christie has announce that he will attempt to find work for the employees of the casinos scheduled for closing. This includes Showboat and Trump Plaza.

Lights at Showboat and Trump Plaza are going dim.

A summit of casino executives, labor leaders and elected officials will convene on September 8th. They will discuss the future of Atlantic City. This is being planned with the hope that someone will make an offer that will bring Revel back from the canvas. This knockout would devastate the resort and the thought of future gaming investments.

What is lost in all the negativity of the closings is non gaming revenue, hotel occupancy and internet gaming are increasing. There are some things right in Atlantic City  I 'll expand on these variables in my next post.

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