Revel Casino in Atlantic City Files for Second Bankruptcy

Revel Casino in Atlantic City Files for Second Bankruptcy

Despite providing luxurious accommodations and marketing that is several, Atlantic City’s Revel Casino in New Jersey has failed to show a profit. (Image: cntraveler.com)

Whenever Revel Casino Hotel launched in Atlantic City in 2012, the city saw it as the start of a new age for the regional gambling industry. Now, it looks as though the resort might drop as one of the largest problems in American gaming history.

The Revel Entertainment Group has filed for protection from the creditors in a federal bankruptcy https://myfreepokies.com/lightning-link-slot-review/ court, and has place the home up for auction in an attempt to sell the casino before it is forced to shut. According to Revel, that closure could happen in very little as 8 weeks in cases where a sale doesn’t proceed through. That will come as being a blow that is huge the city, as well as the 3,140 workers that just work at the Revel.

Little Value in Struggling Casino

Ownership claims that they have obtained a $125 million loan which will ensure the venue can stay open until a customer is discovered. However they aren’t expecting getting much of a return on their investment: for a casino that cost $2.4 billion to accomplish just two years ago, estimates now have the property respected at less than $300 million. Some even genuinely believe that the real value could be less than $100 million, as it will probably be years before the location has to be able to turn a profit.

‘ We will work to reach a contract w Continue reading « Revel Casino in Atlantic City Files for Second Bankruptcy »

World Cup 2014 Circus: Suarez Loses 888, While Neymar Briefs

World Cup 2014 Circus: Suarez Loses 888, While Neymar Briefs

The Bite Heard Round the World cost Luis Suarez his World Cup and his 888poker sponsorship this week, but 888 may should thank the toothy Uruguayan within the end. (Image: bbc.com)

It’s all over but the shouting: as we reported earlier this week, the Bite That Rocked the World Cup, aka Luis Suarez loses his mind, now has 888poker officially cutting ties with the Uruguayan striker. Following a four-month playing ban by FIFA that effectively finishes his World Cup play, Suarez must now face the sobering reality than he could chew this time, career-wise that he bit off more.

It absolutely was just final month that 888 signed the, um, colorful character that is Suarez to its ambassador program, and even then, it appeared to be a shaky bet on the part of the on line poker giant; all things considered, this had beenn’t precisely the first, or second, or third (you get the concept) time that Suarez sank his teeth into a very bad concept.

‘888poker finalized Luis Suárez adhering to a season that is fantastic which his achievements had been widely recognised,’ said the business in an officially issued statement. ‘Regrettably, following his actions during Uruguay’s World Cup match against Italy on Tuesday, 888poker has determined to terminate Luis Suárez to its relationship with immediate effect.’

In case you live in a bubble and haven’t heard the gory details, the FIFA ban and 888 shunning follow a much-publi Continue reading « World Cup 2014 Circus: Suarez Loses 888, While Neymar Briefs »