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Reports say Hard Rock is interested in buying Revel

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The Revel casino as seen from Atlantic City's Boardwalk.
The Revel casino as seen from Atlantic City's Boardwalk. - (NJBIZ file)

Revel AC Inc. announced in November that it will "explore strategic alternatives" to save the struggling casino. A possible scenario has emerged this weekend.

According to the NY Post, Revel is in negotiations to sell the property to Hard Rock International, which has eight casinos and has looked in to adding a spot in Atlantic City for some time.

According to the Post - quoting unnamed sources - Hard Rock will do a massive renovation of the property, helping make it another destination for Atlantic City.

This summer, Resorts International saw an increase in revenue when it opened a Margaritaville restaurant.

Having a brick-and-mortar location in Atlantic City could help Hard Rock International in other ways; it would make it easier to get involved in online gambling and get a stake in any potential gambling expansion in North Jersey.

Revel has been a financial disaster since opening in 2012 and went through a bankruptcy reorganization earlier this year. It did, however, have a piece of good news in November, when it recorded the largest revenue gain of all the casinos— a staggering 134 percent increase, to $14.6 million from $6.2 million.

Finding a buyer, however, figures to be the biggest win the casino could have.


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Revel increases credit by $75M, exploring strategic alternatives

Write to the Editorial Department at editorial@njbiz.com

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