The power is back on at Atlantic City's former Revel casino, but when it will re-open -- and whether it will even still be a casino -- remains up in the air.
The former owners of Atlantic City's Revel casino are acknowledging a long list of mistakes that helped kill the $2.4 billion resort, including an onerous energy contract that strangled the property from the get-go.
Two days after it was bought by a Florida developer, Atlantic City's former Revel casino went dark Thursday as the power plant that is its sole supplier of utilities cut off service.
Billionaire investor Carl Icahn says a big reason four of Atlantic City's 12 casinos closed last year is the "exorbitant" payments they had to make to a union-run health insurance fund and an underfunded pension plan.
The owners of Atlantic City's former Revel casino hope to sell it "soon," even as they seek an extension through the end of June to wrap up its bankruptcy case.
Wall Street is less than thrilled about what it has heard from emergency managers appointed by New Jersey Gov. Chris Christie to help turn around Atlantic City's finances.