Atlantic City’s former Revel Casino sold for USD 200M
The property has been reportedly sold to Colorado developer Bruce Deifik for US$ 200M.
US.- Deifik plans to rebrand the shuttered casino property as the Ocean Resort Casino and reopen it this summer, as reported by the Press of Atlantic City
The Revel Casino Hotel Atlantic City, which was built in 2012, shut down in 2014 after filing for the second round of Chapter 11 bankruptcy protections. In April 2015, Florida developer Glenn Straub’s Polo North Country Club Inc. acquired the facility for US$ 82M and announced plans to reopen the property under the name TEN Atlantic City.
The opening of the Ocean Resort Casino is expected to coincide with the reopening of another shuttered casino, the rebranded Hard Rock Hotel & Casino Atlantic City.
The Boardwalk property will offer 138,000 square feet of gaming space featuring 2,200 slot machines and 100 table games. Should the US Supreme Court overturn the federal sports betting ban, the property will also offer a “best in market” sportsbook.
Ocean Resort Casino would maintain the 165,000 square feet of meeting and convention space, in addition to the 5,700 seat concert hall with room for possible future expansion.
“Atlantic City is coming back with a vengeance and with the groundwork for the legalization of sports betting, we foresee a great opportunity to bring a state of the art sports book to a city which caters to a large and diverse sports market,” reportedly said Deifik.
