Revel to Declare Bankruptcy Monday
The beginning of the end (or the beginning of a new beginning?) starts Monday, when A.C.’s most troubled casino is expected to file for bankruptcy.
Revel will maintain normal business operations during the bankruptcy. But the financial restructuring appears to clear the way for a series of practical changes, including addition of a smoking area, a beach bar, and more reasonably priced restaurants, among other things, by Memorial Day weekend, in time for the resort’s peak season.
If Revel can’t save itself, potential buyers include the Penn National gaming group, which is competing for Philly’s second casino license, and Neil Bluhm, the Chicago man who owns Sugarhouse. [Inquirer]