If the Revel Casino Hotel launched in Atlantic City in 2012, the city saw it as the beginning of a new era for the local gambling industry. Now, it appears as though the resort might drop as certainly one of the largest problems in American video gaming history.

The Revel Entertainment Group has filed for protection from the creditors in a federal bankruptcy court, and has put the home up for auction in an effort to sell the casino before it is forced to close. According to Revel, that closure could happen in only a small amount as 8 weeks if a sale doesn’t undergo. That would come being a blow that is huge the town, because well as the 3,140 employees that work on the Revel.

Little Value in Struggling Casino

Ownership claims that they will have obtained a $125 million loan that will ensure the venue can stay open until a customer is discovered. However they aren’t expecting to get much of a return on their investment: for a casino that cost $2.4 billion to perform just two years ago, quotes now have actually the property valued at lower than $300 million. Some also genuinely believe that the value that is true be less than $100 million, because it will likely be a long period before the place has an opportunity to turn a profit.

‘ We will work to att Читать далее →