CAMDEN, NJ—The ownership of Revel Casino Hotel, facing losses of $1 million-$2 million a week, was looking to shut its doors Monday, but was turned down by state regulators, who ordered Revel to remain open until Labor Day weekend.
Attorney John Cunningham, who represented Revel in bankruptcy court proceedings on Monday, said that it is "still the debtors' goal and hope that we will have a successful sale.”
U.S. Bankruptcy Judge Gloria Burns scheduled a hearing for Sept. 2 to approve a sale if a buyer emerges, according to the Associated Press. Revel's hotel will close at 11 a.m. on Sept. 1, and the casino will shut down at 5 a.m. the next morning. Last week, Revel had announced it would close on Sept. 10, but later moved the closing dates up.
Cunningham said that the closure might help spur a sale of the property, according to a report in The Inquirer. "It may be that some of the dust has to settle from our shutdown," Cunningham said. See story in The Record.
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