The new owner of the closed Revel casino in Atlantic City, New Jersey, which paid $110m for the property, is expected to invest at least $200m in the now shuttered casino, with expectations of reopening next year, reports nj.com.
Revel, which opened in 2012 at a cost of $2.4bn, never turned a profit and closed in September after twice being declared bankrupt.
The new owner, the Toronto-based Brookfield Asset Management, also owns the Hard Rock Hotel and Casino in Las Vegas and the Atlantis Paradise Island casino in the Bahamas.
The company said it plans to reopen the 57-storey luxury hotel and casino, but has not set a timetable.
