Atlantic City's Revel could reopen next year
James Kehoe, chairman of the Casino Reinvestment Redevelopment Authority, told the NJ Alliance for Action that the investment group expects to close on the deal by early next month. "We hope they come to town," he said.
Kehoe, in his address to the NJ Alliance for Action, a nonprofit, nonpartisan coalition of more than 2,500 business, professional labor, academic and government leaders, said Brookfield enters the game with a good track record, referring to its other two casinos. "One thing they bring is a book of business," he said.
Revel, which opened in 2012 at a cost of US$ 2.4 billion, never turned a profit and closed in September after twice being declared bankrupt.
Asset Management also owns the Hard Rock Hotel and Casino in Las Vegas and the Atlantis Paradise Island casino in the Bahamas.
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