January 9, 2018 Comments Off on Former Revel Hotel Casino in Atlantic City Acquired for $200M Views: 2837 National News, New Jersey, Northeast

Former Revel Hotel Casino in Atlantic City Acquired for $200M

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Colorado-based AC Ocean Walk acquired the former Revel Casino Hotel in Atlantic City for $200 million from Wellington, FL-based Glenn Straub, and plans to re-brand the 20-acre Atlantic City Boardwalk property as the Ocean Resort Casino. The 1,399-room shuttered asset is set to undergo renovations immediately, with plans to open in summer 2018.

The newly envisioned Ocean Resort Casino will enhance and expand the existing 6.4 million total square feet with plans for 138,000 square feet of gaming space featuring 100 table games, 2,200 slot machines and a sports book. Ocean Resort Casino will maintain the 165,000 square feet in meeting and convention space, as well as the 5,700 seat concert hall with space for potential future expansion.

The Revel Casino Hotel originally opened in April 2012, following a total investment of nearly $3 billion. Denver-based Integrated Properties, is the principal owner and managing partner of AC Ocean Walk.

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