Revel Eyes ‘Strategic Alternatives’ for Casino
NEW JERSEY 101.5
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 by The Associated Press. All Rights Reserved.)