This might be Revel's last chapter, but not the last one for this building. While I am not privy to the current facts that lead to this decision, I do know this process is a complex one compounded by an extremely short time frame and cash flow challenges. 'We are disappointed in the decision that the Board of Revel has made as there appeared to be several bidders for the property. The mayor of Atlantic City, Don Guardian, released a statement concerning the announcement of the Revel closing: But after Revel's board met on Monday, the decision was made to shutter the iconic glass-covered casino at the north end of the Boardwalk. The casino was due to be sold at a bankruptcy court auction last week, but that was postponed until Thursday to allow casino officials to study bids that were received. 'We will continue to endeavor toward a placement with such an owner, but there can be no assurance as to the outcome of the pending bankruptcy process.' '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.

But it acknowledged that if that happened, it would be after the facility had already shut down.

Revel said it still hopes to find a buyer through the bankruptcy process. READ: Prosecutors Say Man Groped Woman Aboard NJ-Bound Flight