IGland debacle - AC Revel casina going bankrupt

[Riccardo]

$2.4 billion casino worth less than $100 mill? wow

http://nypost.com/2014/06/19/revel-c...without-buyer/

[Irish George]

second time...

...they are filing...and dont forget the state shelled out to complete the building...nobody goes there...total waste. AC is on the slide back to oblivion.

[Riccardo]

Bummer... what's gonna happen to you and diggle's beloved chef boyardees?

nm

[Irish George]

No worries

they were around long before casinos.

[Susquehanna Birder]

Rime has it that Harrah's is looking at the property.

[Diggle]

The money you would have to spend to fix the problems would cost more than to blow it up and start over. Place is doomed.

I took a meeting with them prior to opening and they said that people would be staying there 3-5 nights per week. It would be a destination like Miami. Everyone except them knew it was short sighted. Such incompetence

[Susquehanna Birder]

I think that's the right approach (you can go anywhere and gamble these days), but the execution was blown. And the timing with the dumping economy didn't help, either.