Caesars Entertainment Looking at Revel Casino

The Atlantic Club in Atlantic City, New Jersey was not the only casino struggling to make ends meet. The Revel Casino has also been struggling since launching back in 2012. The property is heading toward the auction block and one company rumored to be interested in purchasing the property is Caesars Entertainment Corp.

This of course is not huge news as one would expect another casino group to want to purchase the property. However, the Caesars group just went in with the Tropicana Entertainment group to purchase the Atlantic Club for a hefty sum. Caesars would end up with the actual property while Tropicana would take the gaming equipment.

It has now been rumored that the Caesars group will be bidding on the property, one that took over $2.5 billion to create. The property has struggled since opening in 2012 and in 2013 had to file bankruptcy. Caesars already has four properties in the area and this would give them even more brick and mortar space. Over the next two weeks, final bids for the Revel property have to come in.

It was also reported some months ago that the Hard Rock International company may also be interested in the property. If this is the case, there may be a bidding war between the two companies as to who will be able to earn the property. The decision is also based on what the potential purchaser can do with the property (no bluffing in this situation folks).

Right now the online industry is flourishing while the brick and mortar is having a tough go. It will be interesting to see how the property will be used once it is purchased and if other casinos begin to see losses as well. For now, it seems as though the Atlantic Club and the Revel are the only two casinos that were in desperate need of saving.