It cost $2.4 billion to build and five years to complete construction. Revel was the biggest disaster in Atlantic City history. Showboat Second Atlantic City Casino to Close It seemed that Atlantic Club thought its value would skyrocket thanks to recently legalized online gaming in New Jersey. It was wrong. The Atlantic Club fell into bankruptcy in November 2013. It was unable to find a buyer and ceased operations in January 2014. Caesars Entertainment acquired the physical property. Tropicana bought the gambling equipment. Atlantic Club decided to call off the sale, but the agreement allowed the property to keep the deposit paid by PokerStars. The contract called for PokerStars to close the deal by April 30, 2013, and it was unable to receive a gaming license by that date. It also paid $750,000 a month to keep the doors open. The world’s largest poker room put the property under contract for $15 million in December 2012. The former Atlantic City Hilton, later called ACH, had established itself as a locals casino for low rollers.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |