In the short term, the casino’s owners have secured a loan of around $125m which will be used to keep the venue open until a buyer can be found. Should the casino be forced to close it would be a significant blow to the company’s 3140 employees and the wider Atlantic City gambling community. Revel Entertainment Group, which owns the casino, says the decision to put the casino back into bankruptcy, and subsequently up for auction, had been taken to prevent it closing its doors permanently. For the second time in a little over a year, Atlantic City’s troubled Revel Casino Hotel has filed for Chapter 11 bankruptcy protection.
