The glass casino, Revel, deemed Atlantic City’s “last hope,” has filed for Chapter 11 bankruptcy protection, less than a year after opening.
The voluntary, prepackaged bankruptcy envisioned for late March will wipe away about two-thirds of its $1.5 billion in debt by converting more than $1 billion of it into equity for lenders.
Kevin DeSanctis, Revel’s CEO, said the restructuring will give the casino resort more flexibility to operate.
“Today’s announcement is a positive step for Revel,” DeSanctis said. “The agreement we have reached with our lenders will ensure that the hundreds of thousands of guests who visit Revel every year will continue to enjoy a signature Revel experience in our world-class facility.”
A positive step? Alrighty then!
Amber and Gary Cole Killed in Fatal Two-Vehicle Crash at KY 9 and KY 59…
House Democrats Release 19 Photos From Jeffrey Epstein Estate; Images Include Trump and Clinton Democrats…
MURFREESBORO, TN. (THECOUNT) -- Denise J. Bradley, 63, of Murfreesboro Tennessee, was identified as the…
FRANKFORT, KY. (THECOUNT) --De’Jon Darrell Fox Jr., 19, of Indianapolis, has been identified as the…
Rebecca Park And Unborn Child Found Dead In Manistee National Forest; Mother And Stepfather Charged…
Pamela Wall Identified As Peoria County Jail Detainee Found Dead In Cell Pamela Wall, a…
View Comments
Let's revel in it.