After months of rumors and denials, the closed Revel Casino Hotel has been sold to a group, lead by Colorado-based investor Bruce Deifik for $200 million.
The property, which will be re-branded as the Ocean Resort Casino, is expected to open this summer. The casino is expected to generate more than 2,500 jobs.
“We are incredibly excited that we were able to take advantage of the opportunity to acquire this tremendous property at a time when Atlantic City is seeing great economic strides,” Deifik said in a statement. “Now the city has a number of exciting new projects with our property and the Hard Rock, as well as Stockton University‘s new campus and the expansion of the medical center.