New Casino Owner Tries to Avoid Revel’s Mistakes

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ATLANTIC CITY, N.J.—Bruce Deifik had never been to Atlantic City before he decided to buy the biggest failure on the boardwalk.

Mr. Deifik, the 63-year-old founder of Denver-based development company Integrated Properties, Inc., said he put in an offer to buy the former Revel Hotel and Casino after being reassured during a phone conversation with minority owner Frank Ruocco that it was a good investment. The $2.4 billion former Revel closed in 2014 after only two years in business due to competition from neighboring states,…

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