Developer Grabs Atlantic City's Revel For $200M

By Darcy Reddan (January 8, 2018, 9:29 PM EST) -- A subsidiary of of Denver-based Integrated Properties Inc., a commercial and real estate development company said Monday it has paid $200 million for the Revel Casino Hotel in Atlantic City, New Jersey, which cost about $3 billion to develop and went bankrupt back in 2014.

AC Ocean Walk LLC has finalized a $200 million deal for Revel AC Inc. and plans on renaming the property Ocean Resort Casino. The building holds 1,399 rooms and will bring 2,500 to 3,000 jobs when fully operational, according to the press release. In 2015, Revel was purchased for $82 million by real estate tycoon Glenn...

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