ATLANTIC CITY, NJ—This gaming resort oceanfront city that has been battered by natural and economic storms got a little bit of heartening news yesterday when Atlantic City Mayor Don Guardian revealed there are six interested buyers for the troubled Revel Casino Hotel.
At the Wednesday press conference, Mayor Guardian also noted that his administration has held discussions with the current owners of the former Atlantic Club about selling the property to a new buyer, according to the Associated Press. The Atlantic Club shut its doors in January.
"No, I'm not happy that three casinos are closing," Guardian said. "But I know that behind closed doors there are a half-dozen companies looking at the opportunity to purchase Revel." The Revel is scheduled to go to bankruptcy auction next month.
In terms of the Atlantic Club, the mayor noted that there could be a new buyer for the property. Caesars Entertainment sold the building on late May to TJM Properties, which has plans to run it as a non-casino hotel.
"We're meeting with TJM about a potential new buyer for that property," the mayor said. He did not provide any details concerning those talks, however.
In the fall Atlantic City is facing the possible closure of three casinos on the Boardwalk—Revel, the Showboat and Trump Plaza. See story in The Inquirer.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to asset-and-logo-licensing@alm.com. For more inforrmation visit Asset & Logo Licensing.