Atlantic City's Revel eyes 'strategic alternatives' - Philadelphia News, Weather and Sports from WTXF FOX 29

Atlantic City's Revel eyes 'strategic alternatives'

Posted: Updated:
Photo by Arun Kristian Das Photo by Arun Kristian Das
WAYNE PARRY | AP

ATLANTIC CITY, N.J. (AP) - Six months after exiting bankruptcy court, Atlantic City's newest casino may be up for sale - or headed back to bankruptcy.

Revel Casino Hotel says it is pursuing "strategic alternatives," which in the gambling resort usually means the property is being marketed for sale, or considering a bankruptcy filing.

But the company stresses it has not decided on any specific course of action, and cautions it is possible that no transaction will result from the exercise.

It won't say what options are under consideration.

Revel also announced it has received additional financing, and that the $2.4 billion casino hotel intends to operate normally while it considers its future.

One of the advisers it hired last week helped it through its bankruptcy case in March.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

  • New Jersey NewsNew Jersey NewsMore>>

  • Temperature drops; snow moves in

    Temperature drops; snow moves in

    Wednesday, April 16 2014 6:15 AM EDT2014-04-16 10:15:30 GMT
    Fox 5 photoFox 5 photo
    Temperatures are below average for the remainder of the week. The mild weather made an exit in the Tristate region and snow moved in late Tuesday into Wednesday. Scattered showers, heavier rain, thunderstorms, and strong winds made a return. 
    Temperatures are below average for the remainder of the week. The mild weather made an exit in the Tristate region and snow moved in late Tuesday into Wednesday. Scattered showers, heavier rain, thunderstorms, and strong winds made a return. 
  • Push to save historic NJ baseball stadium

    Push to save historic NJ baseball stadium

    Wednesday, April 16 2014 6:08 AM EDT2014-04-16 10:08:26 GMT
    Volunteers are working to help save one of the only stadiums still in existence where black professional baseball teams once played. Hinchliffe Stadium in Paterson was once home to the New York Black Yankees, the New York Cubans and other Negro League teams. Eleven members of the National Baseball Hall of Fame played there, including Larry Doby.
    Volunteers are working to help save one of the only stadiums still in existence where black professional baseball teams once played. Hinchliffe Stadium in Paterson was once home to the New York Black Yankees, the New York Cubans and other Negro League teams. Eleven members of the National Baseball Hall of Fame played there, including Larry Doby.
  • Suspect Sandy charity begins distributing dollars

    Suspect Sandy charity begins distributing dollars

    Tuesday, April 15 2014 3:21 PM EDT2014-04-15 19:21:56 GMT
    A Superstorm Sandy charity that was suspected of fraud has started distributing money nearly a year after a settlement with New Jersey prosecutors. The unregistered Hurricane Sandy Relief Foundation handed out $225,000 to four charitable organizations in New Jersey and one in New York.
    A Superstorm Sandy charity that was suspected of fraud has started distributing money nearly a year after a settlement with New Jersey prosecutors. The unregistered Hurricane Sandy Relief Foundation handed out $225,000 to four charitable organizations in New Jersey and one in New York.
Powered by WorldNow

WTXF-TV
330 Market Street
Philadelphia, PA 19106-2796

Phone: (215) 925-2929
Fax: (215) 982-5494

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices