Revel Casino closing came just a little more than two years after its opening, according to multiple reports. Unfortunately, the hope is lost that the casino will turn around Atlantic City's struggling casino market as Revel Casino closing was finalized Tuesday morning.

According to the Associated Press, the $2.4 billion Revel Casino closing happened in the wee hours of Tuesday following the Monday shutdown of its hotel.

Revel Casino closing was to happen at 6 a.m. initially, but according to the Daily Mail, staff shut it down 35 minutes early. Before 6 a.m. on yesterday, they already had their remaining   handful of gamblers toward the exits.

There was also a pre-recorded announcement which was programmed in advance. The announcement spoke the words which staff in the casino had been dreading through loudspeakers.

The speakers announced, "Attention: Revel Casino is now closed." The Revel Casino closing has been made official. 

Lights were immediately turned off inside the glass-covered building following the announcement.

It wasn't only staff at the casino that had gone through the closing ordeal. Staff at its hotel, which is shaped like the 1950s cartoon character Gumby, was closed on Monday, making it invisible during the wee hours of the morning when the Revel Casino closing happened.

According to the Daily Mail, the entire property had its debut only in Apr. 2, 2012. Its then-president was even joined by New Jersey Lt. Gov. Kim Guadagno during a toast.

Liditze Diaz, a restaurant worker at Revel, expressed her dismay with the Revel Casino closing.

 "When I started, it was promising. We had high hopes," Diaz said.

She added, "Then we started hearing rumors, but I thought, 'No way this place is going to close. It's too new, too pretty.' It's hard to believe."

Ruthie Fenimore of Warren, New Jersey, one of Revel's last gamblers on Tuesday was also shocked with Revel Casino closing.

Fenimore said, "It's a ... shame. I really love this place. This place would be perfect if it was in Las Vegas. It would be right up there with Wynn. All the restaurants were awesome and HQ is the best nightclub I've ever been to in New Jersey."

He also reminisced his first experience in the casino's hotel, "I remember the first time I came here, I was lying on the bed opening and closing the curtains with a remote control. It blew my mind. The bathroom was bigger than my home."

Revel Casino closing was never in the minds of its developers as it began construction just before the Great Recession. It unfortunately ran out of money halfway through construction therefore having no choice but to drop plans for a second hotel tower. According to the Daily Mail, during that time, the company had also been rushing with the remaining $1 billion or so it for the project to finish.

Because of the difficulties it faced during construction, when it opened, it had so much debt that it wasn't capable of returning profit any longer, reports the AP.

The few gamblers that it had also couldn't keep Revel alive.

During its two years of operation, Revel was so deep in debt that it was unable to find anyone willing to buy the property and keep it open as a casino.

Because of the Revel Casino closing, by mid-September, there are already four Atlantic City casinos to have gone out of business, out of its total 12 casinos.

Over Labor Day weekend, Revel Casino closing is the second Atlantic City casino to shut down. On Sunday afternoon, the Showboat closed, while the Atlantic Club closed in January. The Trump Plaza is due to close Sept. 16, reports news website nj.com.

Revel Casino closing has left many of its staff wondering of what's to come.

Mark Hubbard, a server at Revel's SkyCafe said, "It's a little bit of a shock. I've been in the industry for 20 years. I've been laid off, but never because of a casino closing."

He is only one of many workers who aren't sure what to do next.

Lori Bacum, a massage therapist at Exhale, Revel's high-end spa, is another workers unsure of her next step with Revel Casino closing.

She said, "It's a tragedy. There were some warnings, but none of us thought it would happen. We felt so safe, because this was the place that was going to take (the city) to a new level."

Atlantic City reportedly began year with 12 casinos, but before the summer is over, it will only have eight.

According to the Daily Mail, many casino analysts and industry executives are expecting the remaining casinos to fare better financially because of the decrease in competition.

Andrew Tannenbaum of Edison, who has stayed at Revel a dozen times in the past year, said of the Revel Casino closing, "It's kind of sad. Compared to other casinos, this was a lot nicer. There wasn't the riff-raff here."

"But I think they overspent, went overboard and got in over their heads. When the Borgata opened, that should have been the last of the high-end casinos for Atlantic City," he added.

Meanwhile, analysts and competitors said that the Revel Casino closing was laden with bad business decisions and a fundamental misunderstanding of the Atlantic City casino customer, reports the Daily Mail.

Mark Juliano, president of Sands Bethlehem in Pennsylvania and the former CEO of Trump Entertainment Resorts in Atlantic City said, "The timing of it could not have been worse. The financial climate while Revel was developing and when it opened were completely different."

Revel officials declined to comment on the matter.

Apparently, Atlantic City's casino revenue has fallen from $5.2 billion to $2.86 billion last year and it has been going on since 2006. By the looks of it, especially with a supposed beam of hope, Revel Casino closing, it will continue to fall this year.

New Jersey voters in 1976 reportedly approved casino gambling as a way to revitalize Atlantic City and provide stable, lasting jobs, but because the Great Recession hit as new casinos rose in neighboring Pennsylvania and New York, Atlantic City's customer base has been deeply affected, according to the Daily Mail.

According to the AP, the consolidation which is currently pummelling Atlantic City is just a reaction to the saturated north-eastern U.S. casino market, and the insufficient demand to support them all.

Revel Casino closing, however, is the most costly failure for Atlantic City.