The former Revel Hotel and Casino in Atlantic City, N.J., which closed after two years in business, has been bought for $200 million by a Colorado development company.

The former $2.4 billion Revel will be rebranded as the Ocean Resort Casino and is expected to reopen in summer 2018, AC Ocean Walk announced Monday. Integrated Properties, a Denver-based commercial and real-estate development company, is the principal owner and managing partner of AC Ocean Walk.

When the Revel opened in April 2012, it was hailed by Republican Gov. Chris Christie and others as a game-changer. Instead, it was hurt by competition from Pennsylvania’s casinos and by poor business decisions, including building its own power plant that lost as much as $2 million a month. The casino hotel had an operating loss of $185 million in 2013, and filed for bankruptcy protection from creditors twice before it announced it would close for good in September 2014.

AC Ocean Walk acquired Revel from Florida developer Glenn Straub, who bought the property for $82 million through a bankruptcy sale in 2015.

“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,” said Bruce Deifik, chairman of AC Ocean Walk, in prepared remarks. “However, given the extraordinary quality and investment made during its development, the new ’Ocean’ will represent one of the finest hotel, casino properties in existence today in an improving market that has demonstrated strength and resilience.”