ATLANTIC CITY — The troubled Revel in Atlantic City still hopes to auction off its property but needs to close to stop big losses, a lawyer for it said.
Casinos & Gaming
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CityCenter opened in December 2009 to cost-overruns and a depressed consumer market. MGM Resorts’ stock price was trading in single digits and the company was looking to unload several hotel-casinos to bolster its sagging balance sheet. MGM Resorts’ survival was in doubt — but today it’s a whole new story.
James Packer, CEO of Melbourne-based Crown Resorts Ltd., is forming a company with ex-Wynn Las Vegas President Andrew Pascal and investment firm Oaktree Capital Management to construct a hotel-casino on the 35-acre site where the New Frontier once was.
The SLS Las Vegas is no longer an island. New neighbors are moving into the old neighborhood at the northern end of the Strip.
A $415 million, 18-month transformation complete, the SLS is ready to make a name for itself at the corner of Sahara and the Strip.
ATLANTIC CITY — The $2.4 billion Revel that opened just over two years ago as a hoped-for savior for Atlantic City’s flagging casino industry will close a week earlier than originally planned, the company announced in an email Friday.
OCEAN CITY, N.J. — Gov. Chris Christie vowed Thursday to do everything he can to help laid-off Atlantic City casino workers find new jobs after the hotels they work for close next month.
The Cosmopolitan of Las Vegas, which is in the process of being sold, grew revenue almost 17 percent in the second quarter and trimmed its quarterly loss.
Casino operator Affinity Gaming saw a decline in both revenue and cash flow during the second quarter, the Las Vegas-based company said Thursday.
A deal between International Game Technology and a Macau-based game distributor could further open the Asian market to the company’s slot machines.
ATLANTIC CITY — A day after announcing it will shut down next month, Revel told a bankruptcy court judge it is still negotiating with potential buyers.
Stratosphere and Arizona Charlies’ parent company said Wednesday nongaming revenue helped fuel the company’s second-quarter results.
The combined $11.5 billion in lottery company-slot machine company mergers in the past few weeks has the investment community relieved.
Station Casinos executives said Tuesday all signs point toward improvements in the Southern Nevada economy. But the benefits of those results haven’t materialized inside casino drop boxes.
Atlantic City’s newest casino is shutting its doors just over two years after opening amid high hopes of turning around the crumbling seaside resort’s gambling market.