We revealed to you a few weeks back that the legendary Caesar’s was interested in purchasing the troubled Revel Casino Hotel. Just this week, another big name in the casino and hotel world has thrown their hat into the ring and announced that they are also interested in buying Revel.
Earlier this week, the Seminole Indians, owners of Hard Rock Entertainments indicated that they were interested in expanding their operations by purchasing the troubled Revel Hotel and Casino.
On Monday, documents were released which stated that Hard Rock had asked state and local regulators whether the Seminole Indian Tribe would be able to qualify for a casino license in Atlantic City, were the hotel and restaurant chain to open a new location in town. This comes on the tail of a February 6th ruling which stated that the tribe was waived from qualifying for a license, although a number of the top executives would have to qualify before being issues any new operating license.
It is still not clear whether Hard Rock is fully committed to purchasing Revel. In 2011, Hard Rock announced that it was interested in building a new casino in town. The idea was quashed in 2012 with Hard Rock claiming the negative market conditions had forced them to change their mind.
With Caesar’s, and now Hard Rock in the mix as potential new owners for the failing Revel location, it’s going to be interesting to see who comes out ahead.
We will keep you posted on all the latest developments as they happen.