Addressing rumors that Hard Rock International might buy Revel Casino Hotel, Seminole Gaming CEO Jim Allen acknowledged Tuesday that the company considered the property but a deal wasn't right.

"Hopefully, it will be a trophy for somebody someday," Allen said during the East Coast Gaming Congress in Atlantic City. "If the economics were right, we would be intersted."

Since last year Revel has acknowledged that it is pursuing a sale, partership or a second bankruptcy restructuring.

Allen pointed to issues with Revel's size and design, saying the company would have had to invest in the property to make it viable.

"We looked at it, and we participated in the process," Allen said. "We believed -- and still do to a certain extent -- that Atlantic City has potential. The product has to change."