Atlantic City's Revel Casino owes $32M in unpaid taxes

Atlantic City will soon get $32 million in unpaid taxes from the former Revel Casino Hotel.

A bankruptcy court judge on Thursday issued an order permitting the city to move forward with efforts to collect the unpaid taxes from the casino. The judge also rejected the casino's effort to re-open a past tax settlement that Revel now claims was unfair.

Judge Gloria Burns permitted Atlantic City to pursue the tax debt. The debt will most likely be paid when Toronto-based Brookfield Asset Management completes its $110-million purchase of the casino from bankruptcy court. A portion of the proceeds from the sale would be set aside in an escrow account to settle the tax debt.

Virtual Event

Hotel Optimization Part 3 | January 27, 2021

With 2020 behind us and widespread vaccine distribution on the horizon, the second half of the new year is looking up, but for Q1 (and most likely well into Q2) we’re very much still in the thick of what has undeniably been the lowest point of the pandemic. What can you be doing now to power through and set yourself up for a prosperous 2021 and beyond? Join us at Part 3 of Hotel Optimization – A Virtual Event on January 27 from 10am – 1:05pm ET for expert panels focused on getting you back to profitability.


According to a September court filing by the city, property taxes on casinos account for more than 60 percent of Atlantic City's annual tax levy. The $37 million due from Revel this year accounts for about 18 percent of the city's budget.

Atlantic City raised its tax rate by 29 percent this year, primarily because successful tax appeals from casinos reduced its tax revenue.

Revel opened in April 2012 at a cost of $2.4 billion, and never turned a profit. After filing for its second bankruptcy, its owners closed the casino resort on Sept. 2.