Atlantic Cityâ€™s Revel Casino announced that it was filing for bankruptcy at the beginning of the week.
At less than a year old, the casino is to file for a Chapter 11 bankruptcy soon.
Revel Casino cost has cost over $1 billion to build and run in its short lifespan and is t he most expensive casino ever to be built in American gambling hotspot Atlantic City.
Revel Casino was also said to be an instrumental part of New Jerseyâ€™s massive campaign to up the stateâ€™s attractiveness as a top gambling destination in its country. The stateâ€™s governor, Chris Christie is also on the brink legalizing online gambling.