{"id":24485,"date":"2014-08-12T09:11:33","date_gmt":"2014-08-12T13:11:33","guid":{"rendered":"https:\/\/brigantinenow.com\/?p=24485"},"modified":"2014-08-14T13:21:39","modified_gmt":"2014-08-14T17:21:39","slug":"revel-cease-operations-september-10","status":"publish","type":"post","link":"https:\/\/brigantinenow.com\/revel-cease-operations-september-10\/","title":{"rendered":"Revel to Cease Operations by September 10"},"content":{"rendered":"<p><img fetchpriority=\"high\" decoding=\"async\" class=\"alignleft size-full wp-image-24487\" src=\"https:\/\/brigantinenow.com\/wp-content\/uploads\/2014\/08\/00120065-0000-0000-0000-000000000000_469b5687-f4ab-4992-a2ac-46c322b7a161_20130222032830_RevelCasino_022113_RM_300.jpg\" alt=\"Brigantine Revel\" width=\"300\" height=\"300\" srcset=\"https:\/\/brigantinenow.com\/wp-content\/uploads\/2014\/08\/00120065-0000-0000-0000-000000000000_469b5687-f4ab-4992-a2ac-46c322b7a161_20130222032830_RevelCasino_022113_RM_300.jpg 300w, https:\/\/brigantinenow.com\/wp-content\/uploads\/2014\/08\/00120065-0000-0000-0000-000000000000_469b5687-f4ab-4992-a2ac-46c322b7a161_20130222032830_RevelCasino_022113_RM_300-20x20.jpg 20w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/>Revel Casino Hotel announced today that they will cease operations no later than\u00a0<span data-term=\"goog_380546360\">September 10, 2014<\/span>, subject to receipt of regulatory approvals.<\/p>\n<p><strong>From the press release:<\/strong> We regret the impact this decision has on our Revel employees who have worked so hard to maximize the potential of the property.\u00a0We thank them for their professionalism and dedication; however we are faced with several unavoidable circumstances.<\/p>\n<p>Despite the effort to improve the financial performance of Revel, it has not proven to be enough to put the property on a stable financial footing.\u00a0\u00a0This situation is compounded by the considerable non-controllable expense structure that has financially burdened the property.\u00a0\u00a0In addition, challenges have arisen in our attempts to sell Revel as a going concern.\u00a0\u00a0While we continue to hope for a sale of Revel, in some form, through the pending bankruptcy process, Revel cannot avoid an orderly wind down of the business at this time.<\/p>\n<p>Thoughtful consideration was given to the impact on our guests, our employees and the employees of our associated tenants.\u00a0\u00a0We hope that Revel can be a successful and vital component of Atlantic City under a proper ownership and reorganized expense structure.\u00a0\u00a0We will continue to endeavor toward a placement with such an owner, but there can be no assurance as to the outcome of the pending bankruptcy process.<\/p>\n<p>Revel will honor reservations and deposits while Revel remains open.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Revel Casino Hotel announced today that they will cease operations no later than\u00a0September 10, 2014, subject to receipt of regulatory approvals. From the press release: We regret the impact this decision has on our Revel employees who have worked so hard to maximize the potential of the property.\u00a0We thank them [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_uag_custom_page_level_css":"","site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center 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