“We hope that Revel can be a successful and vital component of Atlantic City under a proper ownership and reorganized expense structure,” the company said in a statement. It’s still possible that someone could buy the closed Revel and reopen it as a casino. Pieces of the pie will only get smaller now that Massachusetts is planning to join the game.
Revenues from Foxwoods and Mohegan Sun peaked at $1.7 billion in 2006 they dropped to $1.17 billion last year according to UNLV. As a result, says UNLV, 10 out of the 22 states with gaming in 2007 have seen declines since then.
Meanwhile, the number of gambling locations continues to rise. Americans threw down nearly $39 billion in gaming halls last year, according to the University of Nevada at Las Vegas, but that amount is flat with 2012.
