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Thread: revel (atlantic city) closing

  1. 08-12-2014, 11:19 AM #1
    aggressive
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    revel (atlantic city) closing

    http://www.businessinsider.com/atlan...o-close-2014-8

    september 10 looks to be the final date

    remember to use those comps!
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  2. 08-12-2014, 11:26 AM #2
    Blitzkrieg
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    High ROR = REO.
    Last edited by Blitzkrieg; 08-12-2014 at 11:31 AM.
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  3. 08-12-2014, 01:26 PM #3
    Three
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    It goes up for a silent auction this Thursday. I assume interested parties will keep it a casino.
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  4. 08-12-2014, 02:13 PM #4
    Tarzan
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    http://finance.yahoo.com/news/timeli...151950284.html

    What a remarkable saga it's been. You would think the whole "too big to fail" would come into play or someone would save it in the 11th hour on this but the proliferation of the gambling industry has finally run short of enough gamblers to keep it fruitful in recent years. Casinos popping up in neighboring states have made customers more scarce in AC.
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  5. 08-12-2014, 10:08 PM #5
    MidwestTom
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    Recently, I heard that if it were to sell in the silent auctio the buyer automatically gets a 1 billion dollar lean because of the unfinished/un started twin tour that they were originally supposed to build (same building as the one with the golf ball ontop). If you ask me Revel is BY FAR the nicest casino on the boardwalk.
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  6. 08-14-2014, 07:00 AM #6
    moo321
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    Wow, I didn't think it would close down. I thought they would have to liquidate the debt used to build/purchase it, but it sounds like even without the debt it's losing money at the margin. AC has officially gone completely to hell. I am honestly very surprised, and this makes me think AC is going to lose a lot more casinos before this works itself out.
    The Cash Cow.
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  7. 08-19-2014, 06:05 AM #7
    Tarzan
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    Quote Originally Posted by moo321 View Post
    Wow, I didn't think it would close down. I thought they would have to liquidate the debt used to build/purchase it, but it sounds like even without the debt it's losing money at the margin. AC has officially gone completely to hell. I am honestly very surprised, and this makes me think AC is going to lose a lot more casinos before this works itself out.
    There you go! Okay, here's the idea for a great movie script for a Troma films production!! Basically New Jersey keeps going to hell starting with Revel closing. A vortex of bad decisions, greed, desperation and stupidity lead to New Jersey becoming a desolate wasteland that makes "Road Warrior" look like an island paradise. Packs of wild dogs roam the streets that have developed a taste for human flesh with only those strong enough to fight them off surviving. Things devolve further as desperation leads to cannibalism. Among many other zany adventures, the Toxic Avenger starts a small card club in his Tromaville neighborhood, the population decides to cook up the Governor and he feeds the entire state for 3 months...

    I have been away from my computer and on the road so need to catch up on what is going on in the world, what might be new here, catch up on emails that have piled up, etc. Now they are saying that Revel is closing 8 days sooner than they previously announced.
    Last edited by Tarzan; 08-19-2014 at 06:10 AM.
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  8. 08-19-2014, 06:20 AM #8
    BJGenius007
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    It won't stay closed long. It makes finding a buyer easier.

    The trick is to force the current debt holders take realized loss.
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  9. 08-19-2014, 08:33 AM #9
    BJNewbeeNoMore
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    revel.jpg
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  10. 08-20-2014, 09:35 AM #10
    mrw464
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    Now where is Ray Rice gonna go? Anyway, good news. AC needs to hurt badly before it turns around
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  11. 08-23-2014, 09:42 AM #11
    MJGolf
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    Sorry to see this place go; looked very nice. I'm too far from East Coast to visit and last relatives that were there that I communicated much have now moved to Oklahoma. But here is a wistful look for you east coasters:

    https://www.yahoo.com/travel/a-last-...476651844.html
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  12. 08-23-2014, 11:22 AM #12
    Sharky
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    Quote Originally Posted by Tarzan View Post
    ...a desolate wasteland ...Packs of wild dogs roam the streets that have developed a taste for human flesh with only those strong enough to fight them off surviving. Things devolve further as desperation leads to cannibalism. Among many other zany adventures...
    sounds like the Bahamas...or any Caribbean city between the airport and resorts...lol
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