A settlement was made between Atlantic City and Revel casino resulting in a
substantial tax break for the former casino.
The tax assessment on the property has been reduced to $225 million from $625
million in 2015.
On Wednesday, Revel submitted paperwork to the bankruptcy court. The documents
showed that $10 million would have been paid for quarterly taxes before the
agreement. Now the payment owed is $2 million. The payment is due on Sunday.
Revel Casino was in operation for slightly over two years. It cost $2.4 million
to complete. However the casino was never to earn a profit.
The casino has been sold for $95.4 million to a developer from Florida. February
7 is when the sale is set to be finalized.
Rev up your action with this fully loaded Poker Room and hundreds of casino games!
500 Nations is an independent directory and information service free of any gaming operator's control and not affiliated with any casino.
Warning: You must ensure you meet all age and other regulatory requirements before entering a casino or placing a wager.
There are hundreds of jurisdictions in the world with Internet access and hundreds of different games and gambling opportunities available on the Internet.
Do not assume that Internet gaming sites are in compliance with the rules and regulations of every jurisdiction from which they accept players.
YOU are responsible for determining if it is legal for YOU to play any particular game or place any particular wager under the laws of the jurisdiction where you are located.