Atlantic City's Failed Revel Casino Sells for $200 Million
The closed Revel Atlantic City casino in Atlantic City, New Jersey, on May 4, 2016.
Photographer: John Taggart/Bloomberg
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Revel, the failed $2.4 billion casino in Atlantic City, New Jersey, built as a high-end playground for Wall Street bankers, sold for $200 million to a Colorado developer who plans to reopen it under the name Ocean Resort Casino.
The Revel opened in 2012 as the tallest building in the seashore town with Beyoncé as its headliner. It closed two years later after two trips to bankruptcy court, and a judge allowed Florida developer Glenn Straub to buy the property for $82 million in 2016.