Revel and Caesars’ Gary Loveman
Las Vegas-based Caesars Entertainment Corporation is mulling over whether to make an offer on the troubled Revel Casino Hotel in Atlantic City, N.J.
There are no negotiations over salvaging the property, which filed for bankruptcy last year. Bids are being accepted for the next two weeks. Caesars owns four properties in the city and claims it has the industry’s biggest customer database.
Caesars has been refinancing its $24 billion debt and selling off buildings.
Revel was built for $2.6 billion. When it was opened in 2012 , the casino was heralded as Atlantic City’s saving grace. [Bloomberg News] — Mark Maurer