Revel Could Close by the End of the Summer
More bankruptcy news could lead to a hard blow for Atlantic City.
Revel Casino warned it's employees yesterday that the resort could close by the end of the summer if a buyer cannot be found . According to NBC 10, ' Revel said it is seeking a buyer for the struggling $2.4 billion casino, but can't guarantee one will be found. If not, employees could be terminated as soon as Aug. 18'
Shortly after the disturbing news, Revel filed a Chapter 11 petition with the federal bankruptcy court, its second in as many years. Any potential buyers? One franchise we hear quite often is Hard Rock. Apparently they have indicated an interest "if the price is right." We will just have to wait and see, but time is certainly not on Revel's side anymore.