The New York Post newspaper on Friday reported that Hard Rock International is interested in acquiring the financially-troubled Revel Hotel/Casino in Atlantic City.
Such a move could save the property from having to face a second bankruptcy hearing.
Unfortunately, the $2.4 billion Revel was built for a price that far exceeded its potential during a period when the city’s 11 other casinos were struggling to regain some of the momentum the city enjoyed prior to the recession.
Casino expansion in Pennsylvania, Delaware and Maryland, and racinos in New York have applied competitive pressures that have seriously impacted Atlantic City’s properties.
According to the Post, the Seminole Nation’s Hard Rock International, already the operator of eight casinos, has been looking for a way to enter the Atlantic City market.
Officials said if they are successful in acquiring the property they probably would shut it down while making the necessary changes to brand it as a Hard Rock property.
Hard Rock interested in buying Atlantic City Revel
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