This might be Revel’s last chapter, but not the last one for this building,” he said. In a statement, Atlantic City Mayor Don Guardian said he was “disappointed” in the decision to close Revel. The Showboat and the Trump Plaza Hotel and Casino announced plans to close this year. Revel was one of the city’s poorest-performing casinos.Ītlantic City once had a dozen casinos on the boardwalk. That has eliminated gamblers’ needs to make the trip to Atlantic City, whose gaming revenues last year were their lowest since 1989: $2.8 billion. Revel never turned a profit, and like Atlantic City’s other casinos, it was hurt, in part, by neighboring states’ build-up of their own gaming industries. The casino cost $2.4 billion and took on additional debt after a chief financial backer pulled out of the project in 2010. Kassekert, the chairwoman of the New Jersey Casino Control Commission, said the casino’s financial projections appeared “extremely ambitious.” The Press of Atlantic City reported at the time that Standard & Poor’s assigned a “negative outlook” to the casino operator’s debt, and that Linda M.
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