'The former Revel property opened at a time when Atlantic City was still in economic recovery and operationally it just did not cater to the customer base for this destination. The Revel Casino Hotel was originally opened in April 2012 with a total investment of nearly $3 billion and became a landmark building along the Atlantic City Boardwalk not only for its height as the tallest building in the city, but for the attention to detail that went into building the tower and casino. We look forward to providing the same to all of the surrounding residents when the Ocean is operational,' Deifik added. 'We are grateful for the wonderful team at JP Morgan and others that helped us on this eight month journey, and we would especially like to thank Atlantic City and the State of New Jersey for their hospitality, thoughtfulness and professionalism. 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,' said Bruce Deifik, the Chairman of AC OCEAN WALK. '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.
