Atlantic City's Revel Casino Hotel will close for good next month after failing to find a buyer willing to shepherd the troubled business through bankruptcy.
The massive $2.4 billion casino opened just two years ago to much fanfare and hopefulness that it could rejuvenate the struggling Jersey resort town's signature industry. It was the first new casino to be built there in almost a decade, as competition from nearby Pennsylvania casinos had sapped much of the town's old clientele; Atlantic City's casino revenue has nearly halved since 2006, when Pennsylvania's first casino opened, according to the Associated Press.
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