So what killed Revel? Analysts and competitors say it was hampered by bad business decisions and a fundamental misunderstanding of the Atlantic City casino customer. The Showboat Casino Hotel closed its doors Sunday, and Trump Plaza is closing Sept. When the Borgata opened, that should have been the last of the high-end casinos for Atlantic City.' Revel will be the second of three Atlantic City casinos to close in a two-week span. But I think they overspent, went overboard and got in over their heads. 'Compared to other casinos, this was a lot nicer. 'It's kind of sad,' said Andrew Tannenbaum of Edison, who has stayed at Revel a dozen times in the past year.
But mired in its second bankruptcy in two years, Revel has been unable to find anyone willing to buy the property and keep it open as a casino. Revel is shutting down a little over two years after opening with high hopes of revitalizing Atlantic City's struggling gambling market. Its casino will close early Tuesday morning. (AP) - The most spectacular and costly failure in Atlantic City's 36-year history of casino gambling began to play out Monday when the $2.4 billion Revel Casino Hotel emptied its hotel.
