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East Coast gaming news (Part 1): Brookfield pulling out of deal to buy Revel

Last edit: anawas on Thursday, 20th November 2014 2:07 pm
Last response by anawas 20th November 2:08pm

Kindred spirit hail2skins says Brookfield won't be buying Atlantic City's Revel property after all. Further research puts a lot of blame for the failed transaction on power supplied by a dedicated power plant being too expensive, though that seems to me to be a very convenient excuse.

SOURCE: http://www.philly.com/philly/business/20141120_Revel_casino_buyer_backs_out_of_deal.html


In somewhat related news, now the Taj Mahal might not close after all, if Carl Icahn can get the union to make sacrifices. (Talk about two intractable forces doing battle - we could see the Fontainebleau East appear before long!)

SOURCE:
http://www.bloomberg.com/news/2014-11-19/taj-mahal-to-stay-open-if-union-drops-contract-appeal.html

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 Chuckmonster responded on Thursday, 20th November 2014

Two fascinating stories of vultures turning up their nose until they get better terms. Atlantic City is a buyers market.

Looks like the first link is broken, here tis Revel.


 anawas replied on Thursday, 20th November 2014

(link fixed, I hope)