Revel executives to make millions if casino sells
CAMDEN, N.J. (AP) — A federal bankruptcy judge says she would approve bonuses worth a total of $1.75 million for executives at Atlantic City’s Revel Casino Hotel if they manage to sell the property.
Judge Gloria Burns has not said which executives are in line for the bonuses. But the Press of Atlantic City reports they will get more if the selling price is higher.
Atlantic City’s newest casino is in bankruptcy court for the second time in a little over a year. Executives there say the casino will close and fire its 3,200 employees if a buyer cannot be found.
Bids are due for Aug. 4.
An auction could be held next week if there is more than one qualified buyer.
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