Revel Casino in Atlantic City Files for Second Bankruptcy

Revel Casino in Atlantic City Files for Second Bankruptcy

Despite providing luxurious rooms and several advertising overhauls, Atlantic City’s Revel Casino in New Jersey has failed to show a revenue. (Image: cntraveler.com)

As soon as the Revel Casino Hotel launched in Atlantic City in 2012, the city saw it as the beginning of a new age for the gambling industry that is local. Now, it looks as if the resort may decrease as certainly one of the biggest problems in American video gaming history.

The Revel Entertainment Group has filed for protection from the creditors in a bankruptcy that is federal, and has put the home up for auction in an effort to sell the casino before it is forced to shut. According to Revel, that closure could happen in very little as two months in cases where a sale doesn’t proceed through. That would come as being a huge blow to the city, because well as the 3,140 employees that just work at the Revel.

Little Value in Struggling Casino

Ownership claims that they will have obtained a $125 million loan which will ensure the venue can stay open until a customer is found. But they aren’t expecting getting much of a return on their investment: for a casino that cost $2.4 billion to complete just two years ago, estimates now have the property valued at less than $300 million. Some even genuinely believe that the value that is true be less than $100 million, as it will probably be a long period before the place has to be able to turn a profit.

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Belgian Regulators Push for More Gambling Restrictions

Belgian Regulators Push for More Gambling Restrictions

Belgian regulators want further restrictions regarding the nation’s online gambling industry. (Image: royalservices.in)

In world where increasingly more nations are liberalizing their online gambling sectors to allow for increased competition, Belgium has been something of an outlier. While they have actuallyn’t banned Internet gambling enterprises, they have been really aggressive about blacklisting sites that they do not approve of, forcing Internet companies to block access to them and preventing them from operating within the country.

But while these measures have kept the online that is belgian gaming rather restricted, regulators in the country want to go even further. In an open letter to the next government of Belgium, the Belgian Gaming Commission (BGC) has requested further restrictions on the gambling industry and a tighter legal framework for approved operators to operate within.

The demand comes since the BGC reports that nearly three times as much players in the united states participated in on the web gambling compared to those who used land-based gambling venues within the country. In the Commission’s opinion, Internet gambling cannot be considered ‘as a normal economic activity,’ and therefore, the hefty usage of such sites is concerning.

Concerns Over Performing Identification, Participation by Minors

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