Really expensive and worryingly empty. That's what we thought about Atlantic City's Revel Casino Hotel when we visited in February 2014. It was not a good combination.
Now, the megacasino has filed for bankruptcy, the second time it has done so in the past two years.
Revel is reportedly telling employees it will shut down this summer if it doesn't find a buyer.
The complex cost $2.6 billion to build, and is New Jersey's second-tallest building. It opened in April 2012, but 11 months later was forced to file for bankruptcy.
We photographed the beautiful interior of the casino while reflecting on how it and the rest of Atlantic City fell on hard times.
Pulling into the Revel Casino in Atlantic City, there is a lot of free parking, even for a Saturday afternoon in February.
The casino's troubles were obvious from early on, such as when Morgan Stanley wrote down a $932 million loss on the project in 2010, well before it opened in 2012.
The Revel lost more than $70 million during its first two fiscal quarters of 2012 and filed for bankruptcy in February 2013. Now, just over a year later, it has filed for bankruptcy once again.
See the rest of the story at Business Insider
