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I'm leading a group of sandpeople. We're just waiting for them to lower their price. What really killed AC was the casinos near Philly and that shithole in Queens.Comment -
I was at revel last week and it's absolutely beautiful
Very few casinos in the world right on the beach
It's puzzling how these places don't do wellComment -
JJ how hard did you hit themComment -
AC has definitely seen better daysComment -
Sammy I lost $15..SLOTSComment -
Its a marvel for sure.
Be a shame if it closed.
Nothing else like it in AC or on the east coast for that matter.Comment -
no smoking facility + $8 coronas + overpriced rooms.... hmmm I wonder why they didn't succeed?Comment -
Hear the restaurants are good... how are the prices ?Comment -
Prices high
Nobody gamblingComment -
1) was there last week, didn't pay for single drink when I gambled unless I went to the bar
2) there are smoking sections in the casino
3) rooms are overpriced
4) for Friday and Saturday night, it was empty. Larger crowds at the Trop.
5) only Borgata has the racebook now in Atlantic City. I miss them.Comment -
AC is a dump and hard core ghetto
It finally caught up to them
Pressure from neighboring casinos with much better atmosphere hurt
AC one of poorest places in USA, they made the mistake not to level all buildings and force poor people out
Its dirty also..I see it eventually going to 4 casinos tops and rest bankrupt...summer saves them a little because of beachComment -
Been there once and played though not won anything, these days i would say US casinos are slowComment -
Caesars , Ballys ,Taj, Trop, Nugget ,Borgata and Harrahs the new showboat for pets . Will be the Surving 7! No more then that ever for at least 10 years . Hard Rock is trying to get in the mix with replacing 1Comment -
I wondered why investors built this casino in A.C. In the first place....With A.C. clearly on Its downside, this seemed like a bad Idea, right from the get go........Timing is everything.Clearly, this wasn't the place or the time.Comment -
Comparing Vegas/ Atlantic City is like night and day
Vegas probably has more visitors in a week in Atlantic City has all year
Atlantic city I think has 10 years left before the ghost townComment -
The Trump Plaza Hotel is planning to close. Layoffs soon, closing in September.Comment -
Yes. Like I said 7 left Harrahs entertainment is the only hope that revel has on pennies to the dollars. Thy are the quiet. Buyer of revel if they get a steal . Notice. Showboat closing doors before Labor Day. That weekend is the biggest of year. That's when they are going to give there bid for revel , cheap cheap and then steal it and keep it open ! I know big people down there and plaza will be condos if not hard rock steals them .Comment -
Its over
AC will be gone 5 years or so
Only NJ can even screw that upComment -
Is it the Pennsylvania & Conneticut casinos hurting AC? Why are they having so much trouble these days?Comment -
Atlantic City's newest casino is shutting its doors just over two years after opening amid high hopes of turning around the crumbling seaside resort's gambling market.
Revel Casino Hotel will shut down next month after failing to find a buyer in bankruptcy court, company officials announced Tuesday
The company said the $2.4 billion casino will close its doors on Sept. 10. It has never turned a profit.
The closure will mean the loss of more than 3,100 jobs.
"We regret the impact this decision has on our Revel employees who have worked so hard to maximize the potential of the property," Revel said in a statement Tuesday morning. "We thank them for their professionalism and dedication; however we are faced with several unavoidable circumstances.
"Despite the effort to improve the financial performance of Revel, it has not proven to be enough to put the property on a stable financial footing," the company wrote.
The company said its situation was compounded by a "considerable non-controllable expense structure" that financially burdened the property. It also said challenges arose in attempts to sell Revel.
The company said it cannot avoid "an orderly wind-down of the business at this time."
Revel said it still hopes to find a buyer through the bankruptcy process. But it acknowledged that if that happened, it would be after the facility had already shut down.
"We hope that Revel can be a successful and vital component of Atlantic City under a proper ownership and reorganized expense structure," the company said. "We will continue to endeavor toward a placement with such an owner, but there can be no assurance as to the outcome of the pending bankruptcy process."
The casino was due to be sold at a bankruptcy court auction last week, but that was postponed until Thursday to allow casino officials to study bids that were received. But after Revel's board met on Monday, the decision was made to shutter the iconic glass-covered casino at the north end of the Boardwalk.
Revel opened in April 2012 as the first new casino in Atlantic City since the Borgata opened nine years earlier, and carried great hopes for many that it would be the catalyst to jolt what had been the nation's second-largest gambling market back to life. Atlantic City has since slipped to third place behind Nevada and Pennsylvania, whose casinos touched off the New Jersey resort town's revenue and employment plunge in 2007.
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.
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.
Its original owners envisioned it as a luxury resort that just happened to have a casino, and eschewed many staples of casino culture, including a buffet and bus trips for day-trippers. But that strategy — as well as the only overall smoking ban in Atlantic City — turned off customers, and Revel filed for bankruptcy in 2013, a little over a year after opening.
That led to new ownership and a "Gamblers Wanted" promotional campaign to emphasize the company's new emphasis on its casino.
But despite some improvement, Revel's finances never recovered enough, and it filed for bankruptcy a second time in June, warning that it would close if a suitable buyer could not be found.
Revel's most recent Chapter 11 filing listed assets of $486.9 million and liabilities of $476.1 million.
It will be the second of four Atlantic City casinos to shut down this year as the Atlantic City gambling market continues to crumble.
The city started this year with 12 casinos. The Showboat will close on Aug. 31, and Trump Plaza is closing Sept. 16.Comment -
theres so many people and so much money in the north east , I cant understand thisComment -
The problem is too many neighbor casinos and also Atlantic City is the ghetto
Eventually they'll be no more Atlantic CityComment -
Revel is not the only casino in trouble. I'm a bit surprised there was no buyer because they have a really nice concert venue.
I'd expect someone to buy the Showboat but that remains to be seen.Comment -
Management must really be bad to bankrupt a casino, I mean seriously. Unless the primary business is not the casino?Comment -
September 10th, right around the corner. Thousands of employees kicked to the curb...Comment -
only in NJ they can screw up even casinos
trash state
trash people just like DetroitComment -
JJ , where are you now...
NJ
Vegas
N.Mex
TijuanaComment -
VegasComment -
When the moral States become desperate over the horrid economy
all the sudden moral values are no longer an issue.......
Hmmm.
Nah..
This can't be,can it?Comment -
clone 1000 brock landers. bus them all out to atlantic city. place will turn the most amazing 3-day profit in the history of gaming and be right back on its feetComment -
only trashy people know what trash is!!
Btw, a history lesson. Their is too much supply in AC. Most casinos were built in the 80's when their was no where else to go. Their will be a few closings and will only be about 3 or 4 left .Ac is going to be there .The Borgata is kicking ass and doing well. Other states now have casinos and people don't like to travel. AC was run down but they are doing a makeover and it is not as bad as perceived. They are making many investments in the area and have even put a convention center there. Also, online gambling has taken away people as well. They are going to be building a casino in the Orange County area of NY and also one will be going to Albany. In a few years the Meadowlands will have a casino as well. That's why there are many Racino's now where their is horse racing combined with casino's that are drawing new revenue to the states.Comment
