Atlantic City's Revel casino gets $150M more in financing
Photo courtesy Revel Entertainment
By WAYNE PARRY | AP
ATLANTIC CITY, N.J. (AP) - Revel, Atlantic City's newest casino that has struggled to find a place in the seaside gambling market, has obtained another $150 million in financing to help keep it going.
The casino resort said it amended its agreement with JP Morgan Chase Bank to provide for additional money to help pay down existing debt and to fund operations. Most of it consists of a new $125 million loan.
Since opening in April, Revel has ranked near the bottom of Atlantic City's 12 casinos in the amount of money won from gamblers. But its executives said Revel's business model relies more on room and restaurant revenues than do other casinos.
Revel CEO Kevin DeSanctis said the company will add a new high-limit slots area, and new restaurant and entertainment options.
Saturday, May 25 2013 8:49 PM EDT2013-05-26 00:49:32 GMT
AAA Mid-Atlantic says the average price of a gallon of regular gasoline in New Jersey on Friday was $3.42, up 3 cents from last week. But that's still lower than the price from a year ago
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AP photo
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Cooking used to be as simple as putting heat to meat…but not anymore. There are all sorts of high tech gadgets designed to help make our lives simpler and tastier.
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When it comes to breaking through to the other side, forget Victoria's Secret. Another company, Australia-based HommeMystere, has already done it with lingerie for men.
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Photo courtesy Revel Entertainment
