The pre-planned Chapter 11 filing wiped out $1.2 billion of the casino’s $1.5 billion in debt, by giving lenders an 82 percent ownership stake.
Figures released Monday by the state Division of Gaming Enforcement show the city’s 12 casinos took in $212.3 million.
Less than a year after opening, the Revel casino and hotel in Atlantic City has announced it is filing for chapter 11 bankruptcy next month.
Whether you’re looking for a weekend at the beach with the whole family, or one playing poker and hobnobbing with celebrities, Atlantic City has something for everyone. This east coast beach is perfect for a good party, couple’s retreat or family bonding time any weekend. From strolling the world’s largest boardwalk to trying your luck at the slots, there are endless opportunities for entertainment and adventure at the playground by the sea.
First daughters Sasha and Malia, as well as Gov. Christie, were also in the sell-out crowd. It was Beyonce’s first concert since giving birth in New York City.
The governor, who says he has seen Bruce Springsteen play live 126 times, made the plea Tuesday during a tour of the new Revel casino, which is slated to open Monday.
Revenues have been down for 34 straight months, but experts say the almost three-year long streak could be broken soon.
Fighting a fire will rely on sprinkler systems and internal pipes, as well as scores of firefighters working from inside the building.
Revel was expected to create 2,000 construction jobs and about 5,500 permanent jobs once the facility is open.
Recession-pummeled construction workers expect to see a year and a half of steady work on the casino project, while residents hope they’ll be able to land one of the estimated 5,500 permanent jobs the casino and hotel will create.
Finishing Revel has long been seen as the single biggest move the nation’s second-largest gambling market could do to fight back against regional casinos popping up all around them.
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