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A Struggling Revel Replaces CEO in Shakeup

Revel is replacing its chief executive officer as the struggling casino resort prepares for a Chapter 11 bankruptcy filing.

Atlantic City’s newest casino says CEO Kevin DeSanctis and chief investment officer Michael Garrity are resigning, but will retain positions with Revel Group, a holding company that developed the property. They plan to work on completing new amenity projects for the resort.

Taking over day-to-day operations of the $2.4 billion casino hotel is Jeffrey Hartmann, a 20-year veteran of the casino, hospitality and leisure industries.

Revel Group will no longer be associated with the company after the Chapter 11 filing, which is expected on March 22.

Revel opened last April, but has languished near the bottom of Atlantic City’s 12 casinos in terms of gambling revenue.

 

Copyright 2013 The Associated Press.

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