search

The Real Deal Logo

Trending

H-E-B snags 21 acres in Celina, hinting at development boomH-E-B snags 21 acres in Celina, hinting at development boomRent board’s 4% hike will “plunge” buildings into distress: landlordsRent board’s 4% hike will “plunge” buildings into distress: landlordsHGTV’s “Mr. Flip It” gets four years in jail for $10M fraudHGTV’s “Mr. Flip It” gets four years in jail for $10M fraudDan Kodsi scores $86M construction financing package for 420-unit rental complex near OrlandoDan Kodsi scores $86M construction financing package for 420-unit rental complex near Orlando
New York

Is Caesars in the running for busted Revel casino in NJ?

Revel and Caesars' Gary Loveman
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.

Sign Up for the undefined Newsletter

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

Tags
Atlantic CityRevel Casino