Atlantic City has attracted numerous casino establishments from around the country. One Colorado organization is willing to pay the one hundred thousand application fees for a casino license to be considered in New Jersey. The company AC Ocean Walk LLC applied for this about three months ago by submitting the application to the New Jersey Division of Gaming.
Their application for licensure would allow them to operate a casino in Atlantic City. The license would also allow them to improve the growth opportunities of their casino and potentially recover an organization that was not profitable for many years. The process of applying is long and non-refundable. The fact that one Colorado organization was willing to take the risk in this matter shows the importance and prominence of this prime piece of real-estate.
There were multiple plans for the casino to open based on reports projecting the purchase to go through by May 2018. Revel executives have mentioned multiple times that there is no agreement for selling. They had not disclosed the intention of putting the casino up for sale nor the selection of an individual party to take over. Nevertheless, the casino license application could be the last step they need to complete in order to continue the proposal.
The sale of ReLocated in Atlantic City, this casino is in a prime location that may be able to produce significant results. Revel has been a hot topic in recent years due to the controversy and potential for its reorganization. This would be the next logical step in a long series of actions for the management to regain ownership of the casino as well as to potentially increase its chances of turning a profit. Possible reallocation of funds in addition to the establishment of effective management could be the solution that the Revel needs to turn a profit and increase its exposure as a casino and destination in Atlantic City.
Revel has not been operational since September 2nd, 2014. It had been functioning for over two years before claiming bankruptcy. The organization was unable to make a profit and therefore did not experience much success in the short time span that it was open to the public.
If the casino gains the license in New Jersey, it will have a lot of competition. This is because there is a new Hard Rock casino which used to be the Trump Taj Mahal casino. The Colorado company could be exactly what it takes to shed some new light on Revel and its infrastructure.The opening for this is scheduled for next summer. With numerous options for visitors and tourists, the Revel will have to stand out in order to get the maximum results from its prime location and game offerings.