New Jersey's top casino regulator says Revel Entertainment is seeking outside help with its finances as it struggles with over $1 billion worth of debt.

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Division of Gaming Enforcement Director David Rebuck says Atlantic City's newest casino continues to negotiate with lenders.

The Wall Street Journal, citing unnamed sources, reports Revel has retained a law firm and an investment bank that often advise companies on bankruptcy filings. It adds that the casino is considering a Chapter 11 filing.

Revel will only say it is evaluating various alternatives regarding its finances.

The $2.4 billion casino opened in April, but has lagged near the bottom of Atlantic City's 12 casinos in terms of revenues. In January, it posted its second-worst month, winning less than $8 million from gamblers.


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