Revel owners tell employees they must sell or close for good after second bankruptcy
ATLANTIC CITY - Workers at Revel, a posh Atlantic City casino, are wondering if investors will take a gamble on the resort, which will go out of business without a new owner.
Owners of the $2.4 billion casino have filed for bankruptcy for the second time since opening just two years ago and say they must sell.
Atlantic City's tallest resort is state-of-the-art, with chic hotel rooms, upscale amenities and a smaller casino.
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Revel sent a letter to its more than 3,000 employees warning them that they could all be out of a job on Aug. 18 if there is no buyer.
According to union rules, the casino must give 60 days notice of a potential layoff, so Aug. 18 is reportedly not a firm closing date.