The much-denied controversy of whether the Revel Casino is up for sale or not, by its owner- Glenn Straub is now officially declared to be sold and is soon going to be revamped and launched as: Ocean Resort Casino. According to a Bloomberg report, Denver-based Integrated Properties confirmed the purchase of Former casino Revel for $200 million dollars.The owner Glenn Straub bought the resort in 2016 for $82 million dollar and it functioned for a brief period of time.
We have coined down all that we know about this place so far:
The Chairman of AC Ocean Walk expressed great excitement on the purchase of the property at this time when there are lot of other projects going on around and Atlantic City is experiencing an economic stride. The resort is set to be launched in Summer2018 and will employ around 2500 people. It is a long time and news suggest that around $178 million dollar is being invested in getting it revamped. Earlier reports suggested May but now June or July seems more likely and there is a tough competition being revamped in the vicinity too—The former Trump Taj Mahal which is now Hard Rock.
What do the new owners have to say?
“We are incredibly excited that we were able to take advantage of the opportunity to acquire this tremendous property at a time when Atlantic City is seeing great economic strides,” Bruce Deifik, CEO, and founder of Integrated Properties, said in a statement. “Now the city has a number of exciting new projects with our property and the Hard Rock, as well as Stockton University’s new campus and the expansion of the medical center.”
According to Moody’s Investors Service, which said last month, “The casino had found a new owner, the rebooted casino will have 100 table games and more than 2,000 slots. Integrated Properties’ bet on Revel comes at a time when Atlantic City is making a modest comeback. Through November, total industry gaming revenue was $2.45 billion, up 2.4 percent year-over-year. However, nearly all of the revenue growth was the result of online gambling. Atlantic City could see a big boost if it’s able to offer legal sports betting in the near future.”
What does it have in store?
As the name says it all, of course, you can expect to gamble there. Ocean Resort Casino boasts of 138,000 sq. ft. of sprawling space and over 100 tables and 2200 slot machines.
If the recent case New Jersey case in US Supreme Court also gets a win, there shall be sportsbook for legal sports betting. A lot of exciting options for gambling out there to look forward to!
Expecting Online Casino options?
Well, we are expecting it too but there is no confirmation as of now. Online casinos has been in the State since 2013 and there are numerous brands and entrants in the poker and online casino space. So, it won’t be a big surprise if Ocean Resort Casino joins in too. Although, online casino has almost reached its saturation point and physical casino is taking up more space, including a little bit of the whole won’t be a bad idea.
What are the other attractions?
Here’s the buzz about what they are going to revamp into:
- Rooms for many- 1,399
- Sprawling meeting and convention space- 165,000 sq. ft.
- A stupendous concert hall that can seat up to 5700 people and not just this, it can be expanded in the future too.
- Numerous parking spaces, estimated to be 7,700
The property also boasts of having a delight for everyone in Atlantic Ocean and have revamped former restaurant.