![]() When the first Pennsylvania casino opened in late 2006, Atlantic City's annual casino revenues were $5.2 billion. 2.īrookfield's announcement came as hundreds of casino workers were protesting a planned shutdown of the Trump Taj Mahal, which would become the fifth Atlantic City casino to close this year if it shutters in December as threatened.Ĭasino revenues have been falling for years as a result of increased competition, including from neighbouring Pennsylvania, now the second largest commercial gambling market in the nation. After filing for its second bankruptcy, its owners closed the casino resort on Sept. Revel opened in April 2012 at a cost of $2.4 billion and never turned a profit. It had said it would reopen the business as a casino-hotel but never said how soon that would happen. The company planned to buy the casino for $110 million from bankruptcy court. A Toronto-based company is abandoning its plan to buy the former Revel Casino Hotel in Atlantic City, dealing another blow to a city reeling from a string of casino closures and the disappearance of thousands of jobs.īrookfield Asset Management said in a brief statement Wednesday that it had "terminated the Revel acquisition." ![]()
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