ATLANTIC CITY, NJ—This gaming resort oceanfront city that hasbeen battered by natural and economic storms got a little bit ofheartening news yesterday when Atlantic City Mayor DonGuardian revealed there are six interested buyers for thetroubled Revel Casino Hotel.

|

At the Wednesday press conference, Mayor Guardian also notedthat his administration has held discussions with the currentowners of the former Atlantic Club about sellingthe property to a new buyer, according to the Associated Press. TheAtlantic Club shut its doors in January.

|

"No, I'm not happy that three casinos are closing," Guardiansaid. "But I know that behind closed doors there are a half-dozencompanies looking at the opportunity to purchase Revel." The Revelis scheduled to go to bankruptcy auction next month.

|

In terms of the Atlantic Club, the mayor noted that there couldbe a new buyer for the property. Caesars Entertainment sold thebuilding on late May to TJM Properties, which hasplans to run it as a non-casino hotel.

|

"We're meeting with TJM about a potential new buyer for thatproperty," the mayor said. He did not provide any detailsconcerning those talks, however.

|

In the fall Atlantic City is facing the possible closure ofthree casinos on the Boardwalk—Revel, the Showboatand Trump Plaza. See story in The Inquirer.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.