Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
Another Atlantic City Casino To Close - The Revel
The Revel casino will be closing Sept. 10 after no buyer could be found in bankruptcy court. The $2.4 billion resort that was widely seen as the last, best chance for Atlantic City's gambling market is shutting down, unable to find a buyer for even pennies on the dollar.
In addition to putting 3,100 people out of jobs and hurting state and local budgets, Revel's demise shows just how cutthroat the East Coast casino market has become, and how difficult it is for even the newest and nicest gambling halls to survive in an oversaturated market.
Revel Entertainment said the casino and its 1,399 hotel rooms will close on Sept. 10, never having turned a profit.
<snip>
Israel Posner, who runs a tourism and gambling study institute at Richard Stockton College, said he expects Revel to sell as a non-casino building.
article
_______
There is only so much money you can squeeze from people...
2 replies
= new reply since forum marked as read
= new reply since forum marked as read
North Jersey push for 2 new casinos
For the New Jersey challenged:
TWO casinos barely ten miles apart? An amusement park has already been promised to the Meadowlands. And with the congestion the Meadowlands area already has, placing one casino in Jersey City would be surely be the smarter since there are already several hotels in the area and there won't be any reason for northern New Jersey gamblers to spend the night.
rocktivity
A move to build two casinos in North Jersey gained more momentum...
One casino would be at the Meadowlands Sports Complex, and another would be built in Jersey City if the Fireman family — founders of the Reebok sneaker line and developers of the $250 million Liberty National Golf Club — can gain approval for a $4.6 billion project for a 95-story casino and hotel as well as a 100,000-seat auto racing track that could become home to a Formula One Grand Prix race.
One casino would be at the Meadowlands Sports Complex, and another would be built in Jersey City if the Fireman family — founders of the Reebok sneaker line and developers of the $250 million Liberty National Golf Club — can gain approval for a $4.6 billion project for a 95-story casino and hotel as well as a 100,000-seat auto racing track that could become home to a Formula One Grand Prix race.
For the New Jersey challenged:
TWO casinos barely ten miles apart? An amusement park has already been promised to the Meadowlands. And with the congestion the Meadowlands area already has, placing one casino in Jersey City would be surely be the smarter since there are already several hotels in the area and there won't be any reason for northern New Jersey gamblers to spend the night.
rocktivity