That led to new ownership and a “Gamblers Wanted” promotional campaign to emphasize the company’s new emphasis on its casino.īut despite some improvement, Revel’s finances never recovered enough, and it filed for bankruptcy a second time in June. Its original owners saw it as a luxury resort that just happened to have a casino, but that strategy, as well as the only overall smoking ban in Atlantic City, turned off customers, and Revel filed for bankruptcy in 2013.
Revel has ranked near the bottom of Atlantic City’s casinos in terms of the amount of money won from gamblers since the day it opened. 31, and Trump Plaza is due to close Sept. Caesars Entertainment will close the Showboat on Aug. So far this year, the Atlantic Club closed in January, bought at a bankruptcy auction by the parent companies of Tropicana and Caesars and shuttered in the name of reducing competition. An ambitious 2.4 billion venture in a troubled town, Revel is the second-tallest casino tower in the country and boasted 150,00 square-feet of gaming space and almost 2000 hotel rooms. Since 2006, when the first Pennsylvania casino opened, Atlantic City’s casino revenue has fallen from $5.2 billion to $2.86 billion last year.
