Revel Exterior

Aerial view of Revel Casino Hotel, in Atlantic City, Sunday, Aug. 3, 2014.

ATLANTIC CITY — Revel will close its hotel at 11 a.m. Sept. 1 and its casino at 5 a.m. Sept. 2, its parent company said Friday.

All concerts and events scheduled for Sept. 2 or later will be canceled, the company said in a statement.

The company had said earlier in the week that Revel, which employs about 2,800 people and has never turned a profit, was scheduled to close by Sept. 10.

Employees of Revel on Friday night said they hadn’t received official word of the closing but declined to comment. Guests were more forthcoming about the impending closure.

“I think it (stinks),” said Donna Benjamin, of Philadelphia. “They put all that money into this place, and everybody’s about to lose their jobs.”

Two other Boardwalk casinos — Showboat Casino-Hotel and Trump Plaza Hotel and Casino — are slated to shut by summer’s end. The three properties collectively employ about 5,900 people, nearly one-fifth of Atlantic City’s casino work force.

Benjamin was in the casino Friday night to see Dionne Warwick, as were Al and Betty Baliman, who have a home in Sea Isle City.

Betty Baliman said the city’s decline is unfortunate but not unexpected considering the increased gambling competition in neighboring states.

“You’ve got Pennsylvania and Delaware (with casinos), and if you’re a $100, $200 slot player, you’re happy to sit right in Pennsylvania and pull the handle on slots there, rather than down here,” she said.

Gov. Chris Christie announced this week that he plans to convene a bipartisan summit Sept. 8 for politicians, officials and other stakeholders to discuss the city’s future.

This June, hemorrhaging money, Revel filed for bankruptcy protection for the second time since opening to huge fanfare in April 2012, warning workers it could close if it didn’t find someone to buy it quickly.

An Aug. 4 deadline for bids on Revel came and went without public notice of whether bona fide suitors for the property had emerged.

The casino-hotel has been plagued by debt, poor management, increasing casino competition and a poor architectural layout, analysts say.

According to a document released by the Division of Gaming Enforcement, Revel Entertainment Group and lender Wells Fargo Bank initially sought to cease casino operations on Aug. 18, but ultimately compromised with the DGE on the Sept. 1 closure date.  

Staff Writer Braden Campbell contributed to this report

Contact Reuben Kramer:

609-272-7239

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