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Caesars Looking To Bid On Revel Casino

Wednesday January 29,2014 : CAESARS MULLING BID FOR REVEL IN NEW JERSEY?
 
Bankrupt Atlantic City casino could be another useful online gambling base.
 
US land casino giant Caesars Entertainment is considering a bid for the bankrupt Revel Casino Hotel in Atlantic City, insider sources told Bloomberg News Tuesday.
 
The property went through bankruptcy last year and offers to buy the asset close in two weeks’ time, the sources said.
 
Land gambling observers noted that the casino, built for $2.6 billion, could enhance Caesar's aging four-property portfolio in Atlantic City and provide another potential base for New Jersey online gambling operations.
 
Robert Heller, president of the consulting group Spectum Gaming Capital, said that Caesars know-how and facilities could steer more players to revitalise Revel.
 
“They could fill the place,” Heller said, noting that Revel could be “a huge upgrade” to Caesars’ current portfolio.
 
Revel did not respond to enquiries on the possibility of a Caesars bid.
 
Bloomberg reports that Hard Rock International, owned by Florida’s Seminole tribe, is among the companies interested in making an offer for Revel.
 
Revel is owned by a group of hedge funds that assumed ownership after the bankruptcy last year, but it has struggled without a connection to a larger organisation.
 
With four properties in Atlantic City, an offer to buy Revel by Caesars could run afoul of New Jersey regulations prohibiting “undue economic concentration” by casino operators.
 
Caesars' Atlantic City properties include the Showboat, Ballys, Harrahs and Caesar casinos, which account for around 41 percent of AC revenues. Latest figures show that Revel commanded just 6.2 percent of revenues.
 
Late last year Caesars bought the property and fixtures of the liquidated Atlantic Club casino resort in Atlantic City, a property that had earlier been a target for online poker company The Rational Group as it sought a base for New Jersey online gambling operations.
 
That deal fell through when Pokerstars was unable to achieve New Jersey licensing within the contract timeframe, allowing Atlantic Club owners to walk away with $15 million of its upfront money



Gambling News :

NHL Odds: Forsberg Faces Elliott in Nashville - The last time the Nashville Predators played against the Calgary Flames, Calgary had a 4-1 lead five minutes into the second period. Nashville responded with four back-to-back goals, including a hat trick from centreman Filip Forsberg. Both teams went into overtime with five goals, and Calgary defenseman Mark Giordano (12 goals, 22 assists) scored the winning goal.

Sit & Go 2.0 launched online exclusively at Americas Cardroom - Get ready to cheer like a champion before the first flop is even dealt. The much-anticipated Sit & Go 2.0 is now launched online exclusively at Americas Cardroom and Sit & Go players are reaping the benefits of the next evolution of poker.

NBA Odds: Hawks, Wiz in Southeast Showdown - The Washington Wizards (42-27 SU, 36-32-1 ATS) can pretty much secure the Southeast Division title with a win Wednesday night over the Atlanta Hawks (37-32 SU, 31-38 ATS). Tip-off is at 8 PM ET on ESPN; the Wizards lead Atlanta by five games with less than a month remaining before the playoffs.

Mega Moolah progressive jackpot Hit Again - Microgaming’s Mega Moolah progressive jackpot slot has been hit yet again at just over €6.6 million!

NBA Odds: Clippers Try to Slow Down Bucks in LA - Milwaukee Bucks small forward Giannis Antetokounmpo and Los Angeles Clippers power forward Blake Griffin are two of the most talented and versatile forwards in the NBA. The two lead their teams into battle on Wednesday in Los Angeles.

NCAAB Odds: SMU Hosts Tulsa With AAC Title on the Line - There aren’t too many college basketball teams more profitable than the SMU Mustangs (25-4 SU, 18-5-1 ATS). They host the Tulsa Golden Hurricane (14-14 SU, 15-12 ATS) this Thursday night, tipping off at 8 PM ET on CBSSN.

NHL Odds: Canadiens Welcome Islanders Tonight - The Montreal Canadiens (32-20-8) welcome the New York Islanders (28-21-10) on Thursday (7:30 PM ET on SNE). After getting their first victory under new head coach Claude Julien, the Canadiens will look to build on that momentum against a red-hot Islanders team.

NHL Odds: Reeling Flyers Seek Relief in Pittsburgh - #nhl The Philadelphia Flyers have been a bit off since the holidays. They’ve won just eight games since the Christmas break, and now they’ve got a tough one coming up this Saturday night against the Pittsburgh Penguins.

Dollars to Donuts Slot Launch - Firstly, it's a classically styled, easy playing 3-reel with five pay lines featuring a traditional icon set of bars and sevens.

Secret Symbol Slot - RTG will soon release 'Secret Symbol', a 5 Reel Video Slot on 3/15/2017.

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