ATLANTIC CITY, NJ-Word surfaced over the weekend that the Revel AC casino ownership is in negotiations with Hard Rock International to buy the property, which went through bankruptcy restructuring this year.
Hard Rock has reportedly been seeking to add an Atlantic City casino to its portfolio, which already includes eight gaming facilities.
A story in the New York Post quoted unnamed sources saying that Hard Rock plans a makeover of the Revel to turn it into a prime destination. The casino has faltered badly since it opened in 2012 – although it did finally show a revenue surge in November, when receipts shot up to $14.6 million from $6.2 million the previous month.
If Hard Rock does take over the casino, it could potentially also win state approval to operate online gambling.
Meanwhile, the Atlantic Club Casino Hotel announced Friday that it will close Jan. 13. Once known as the Atlantic City Hilton, the Atlantic Club has run in the red all year.
Tropicana Entertainment and Caesars Entertainment, both Atlantic City casino operators, agreed to purchase Atlantic Club's assets at a U.S. Bankruptcy court auction this month for a total of $23.4 million.
Tropicana will take possession of the slot machines and table games for $8.4 million. Caesars will acquire the real estate, including an 800-room hotel, for $15 million.
Earlier this year, the parent company of PokerStars tried to buy the casino in anticipation of the state's legalization of online gaming. There were objections and a legal fight, because of PokerStars' violation of federal regulations several years ago, and ultimately the deal fell apart.
The casino and hotel will continue to operate until the closing date. The former Sands casino was the last Atlantic City gaming hall to close, in 2006.
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