Revel Starts Shutdown After Just Two Years
ATLANTIC CITY, N.J. (AP) — The most spectacular and costly failure in Atlantic City’s 36-year history of casino gambling begins to play out Monday when the $2.4 billion Revel Casino Hotel empties its hotel.
Its casino will close early Tuesday.
Revel is shutting down a little over two years after opening with high hopes of revitalizing Atlantic City’s struggling gambling market.
But mired in its second bankruptcy in as many years, Revel has been unable to find anyone willing to buy the property and keep it open as a casino.
Analysts and competitors say Revel was hampered by business decisions including a total smoking ban, the lack of a buffet and daily bus trips to and from the casino, and the lack of a players’ database from which to solicit customers.
(Story by: Wayne Parry, The Associated Press)