LegitimateCasino Logo

Tag Archives: Atlantic City

More delays in sale of Atlantic City’s Revel Casino to Florida developer

The Revel Casino in Atlantic City has been a nothing but a disaster for owners and investors since it first opened nearly three years ago. Despite multiple efforts from a Florida developer to purchase and reinvigorate the property, the downward spiral continues. A judge in New Jersey’s bankruptcy court has postponed the hearing scheduled for … Read More

Tagged , , , , | Leave a comment

Sale of Revel Casino in jeopardy as Power Plant files for injunction

The impending sale of Revel Casino may be in limbo once again. The Atlantic City property was up for auction late last year, and after multiple hurdles, was finally supposed to be sold to a Florida developer by the name of Glenn Straub for $82 million. Now, ACR Energy, which runs the power plant that … Read More

Tagged , , | Leave a comment

Judge clears way for Florida casino buyer to purchase Atlantic City’s Revel

The Revel Casino in Atlantic City is only a few years old, and has been nothing but a money pit for investors. One man from Florida, casino and business developer Glenn Straub, thinks he can turn it around. Last week, a US District Court judge agreed. Having filed for Chapter 11 on multiple occasions since … Read More

Tagged , , , | Leave a comment

Atlantic City may see new “small” casino open at The Chelsea hotel

For the better part of this year, all of the headlines revolving around New Jersey’s land-based casino market have been discouraging ones. Of the 12 casinos located in Atlantic City, four of them shut down in 2014, and a fifth is scheduled to close next week. Coming out from beneath the black cloud is the … Read More

Tagged , , | Leave a comment

Atlantic City Mayor supports package to save Taj Mahal Casino and its 3,000 employees

The Taj Mahal Casino in Atlantic City is set to lock its doors, ceasing all operations in less than two weeks. A prospective buyer, investment magnate Carl Icahn, would like to purchase the property, invest in renovation and keep it open, but only if certain conditions are met. Atlantic City Mayor Don Guardian says the … Read More

Tagged , , , | Leave a comment

Popular Posts