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Revel: Atlantic City's Most Expensive Failure

STEVE INSKEEP, HOST:

NPR's Business News starts with a lost bet in Atlantic City. The final gamblers placed their bets at the Revel Casino Hotel this morning. Which is the most expensive failure in Atlantic City's 36 year history of casino gambling. The $2.4 billion casino-hotel opened just over two years ago with hopes of revitalizing Atlantic City's gambling market. Analyst say it was a combination of poor management and worse - timing. Because the recession struck as the project broke ground some years ago. Revel is one of three casinos to close in just a few weeks. The Showboat shutdown over the weekend, while Trump Plaza is expected to close later this month. Transcript provided by NPR, Copyright NPR.