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Revenue report due as Atlantic City casinos close

Local News | Aug 13, 2014

Revenue report due as Atlantic City casinos close

ATLANTIC CITY, N.J. (AP) — With Atlantic City bracing for mass casino closings in the next few weeks, New Jersey regulators will report Wednesday afternoon on how much money the casinos and their Internet gambling operations won from gamblers in July.

Revel Casino Hotel announced Tuesday it will shut down on Sept. 10, the victim of uncontrolled expenses, not enough revenue and an unforgiving market that has decided 12 casinos was four too many.

The $2.4 billion resort was unable to find a buyer for even pennies on the dollar.

The Showboat is set to close on Aug. 31, followed by Revel on Sept. 10, and Trump Plaza six days later. The Atlantic Club closed in January.

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