Atlantic City's newest casino is shutting its doors September 10 after being open for just over two years.
The owners of Revel had high hopes of turning around the crumbling seaside resort's gambling market but the $2.4 billion casino has never turned a profit. They were unable to find a buyer in bankruptcy court, company officials announced Tuesday, leading to the closing. More than 3,100 jobs will be lost.
The original owners envisioned it as a luxury resort that just happened to have a casino, and eschewed many staples of casino culture, including a buffet and bus trips for day-trippers. But that strategy — as well as the only overall smoking ban in Atlantic City — turned off customers, and Revel filed for bankruptcy in 2013, a little over a year after opening. New management took over but were unable to turn things around.
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