Once the Revel Casino Hotel started in Atlantic City in 2012, the city saw it as the beginning of a new age for the neighborhood gambling industry. Now, it looks as if the resort might decrease as one of the biggest failures in American video gaming history.

The Revel Entertainment Group has filed for protection from the creditors in a federal bankruptcy court, and has place the property up for auction in an effort to sell the casino before it is forced to close. According to Revel, that closing could happen in only a small amount as two months if a sale doesn’t proceed through. That will come as being a huge blow to 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 may make sure the venue can stay open until a buyer is found. But they aren’t expecting to have 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 not as much as $300 million. Some also believe the true value could be less than $100 million, as it will likely be several years before the place has the opportunity to turn a revenue.

‘ We will work to attain a cont Přečtěte si více o oRevel Casino in Atlantic City Files for Second Bankruptcy …