Seminole Hard Rock Entertainment may be positioning itself to make a bid on the Revel Casino Hotel in Atlantic City after submitting paperwork to New Jersey gaming regulators requesting approval for a possible casino license.
Run by a Florida-based Seminole Indian Tribe, Hard Rock operates well over a hundred businesses internationally that includes eight casinos. The New Jersey Division of Gaming Enforcement did enter an order last month waiving the company from further casino license qualification requirements, but did not yet green light almost a dozen Hard Rock representatives.
Rumors persist that Hard Rock is eyeing the Revel, though the company has not made its intentions public, the Press of Atlantic City reported. Caesars is also reportedly interested, but with four casinos already under its charge in New Jersey, gaming regulators may not approve such a bid for fear that the state’s gaming industry will be much too reliant on the success of one company.
The Revel filed for bankruptcy just one year after opening and is now reportedly being offered to bidders by the current ownership group. Hard Rock International owns a portion of the New Jersey Meadowlands Racetrack, which is often mentioned as a possible casino site should gambling expand beyond the constraints of Atlantic City.
With online poker and gambling now legal in New Jersey, land-based casino ownership takes on a new dimension of added revenue. However, that was not the case for the Atlantic Club, which was purchased jointly by Caesars and Tropicana, and subsequently stripped for parts and shuttered.