Could Caesars be Bidding for Revel?

Today it was reveled that Caesars might be placing a bid for the troubled Revel Casino Hotel, which only emerged from bankruptcy last year.

Opened in 2012, and built at a cost of $2.6 billion, Revel has been in financial trouble since its launch. Like many other casinos and hotels in Atlantic City, the economic problems and flagging tourism over the past few years has meant that many top hotel and casino locations have not been able to fully meet their obligations financially.

Caesars, which already owns a number of other locations with Atlantic City, has hinted that they might be interested in purchasing Revel to expand their property portfolio in town. The recently purchased the now closed Atlantic Club for $15 million, but are yet to make an announcement for the future of that property.

Hard Rock International have also hinted that they might be interested in purchasing Revel.

Offers for Revel are open in two weeks time. We will report more about the future of Revel as more news is revealed.

 

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