Wednesday, October 1, 2014

Revel sold to Hard Rock?

A Canadian asset management company won a bankruptcy court auction for the failed Revel and announced plans to re-open it as a casino. Toronto-based Brookfield US Holdings LLC will pay $110 million to buy the 2-year-old casino that cost $2.4 billion to build, adding it to casinos it owns in Las Vegas (Hard Rock) and the Bahamas (Atlantis).

Atlantic City's Revel closed at 6am on September 2nd of 2014 after failing to find a buyer. Revel opened on April 2nd of 2012

Update November 19th, 2014: Brookfield Asset Management is abandoning its plan to buy the former Revel in Atlantic City,