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Revel Casino Prepares
for Chapter 11

Wall Street Journal, by Alexandra Berzon And Mike Spector

Original Article

Posted By:jackson, 2/20/2013 10:44:40 AM

The owner of the struggling Revel casino in Atlantic City, N.J., is preparing to file for bankruptcy protection in the coming weeks, less than a year after the casino opened. Revel AC Inc., which carries about $1.5 billion in debt, said Tuesday it has reached a deal with investment-firm lenders on a prearranged bankruptcy plan. It expects to seek Chapter 11 protection as soon as mid-March, said people familiar with the company´s plans. The casino company is expected to continue paying employees and operate normally during the bankruptcy proceedings.

Comments:
Too bad. I stayed there recently. Beautiful, classy, clean and spacious, having breaskfast overlooking the Atlantic when four sweatshirt wearing, oversized baseball hat, underwear-showing knuckleheads sat at the table nearby. There, in a nutshell, is THE problem.

  

Post Reply  

Reply 1 - Posted by: snowoutlaw, 2/20/2013 10:50:46 AM     (No. 9186686)

I do not see how a company that never loses a bet in the long run can need bankruptcy. Is this proof that profits are being drained off to the family?


Reply 2 - Posted by: Halfvast Conspirator, 2/20/2013 11:04:18 AM     (No. 9186727)

Having a problem attracting enough stupid people to throw their money away.


   

 

  


 
Reply 3 - Posted by: Safari Man, 2/20/2013 12:33:35 PM     (No. 9186880)

I can´t see the article... needs subscription? Based on the blurb above, I wonder if they are hoping for Sandy bailout funds.


Reply 4 - Posted by: Patchy Groundfog, 2/20/2013 12:56:02 PM     (No. 9186912)

Remember - we´re in a recovery!

That´s why businesses reliant on disposable income are tanking left and right.



Post Reply   Close thread 724160




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Posted By: jackson- 3/30/2013 7:34:51 AM     Post Reply
Anti-abortion groups have been trying to re-impose restrictions on abortion rights for 40 years, but the Legislature and governor of North Dakota have taken this attack on women’s reproductive health and freedom to a shocking new low by passing a bill that they must know perfectly well is unconstitutional by any reading of the 1973 Roe v. Wade decision and others since.Under those rulings, full abortion bans are allowable only after fetal viability, which the medical community generally considers to be around 24 weeks into pregnancy. But North Dakota joins a growing list

   

 

  


 
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Posted By: jackson- 3/12/2013 9:02:50 AM     Post Reply
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Posted By: jackson- 3/8/2013 8:48:19 AM     Post Reply
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Posted By: jackson- 3/8/2013 8:17:18 AM     Post Reply
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Posted By: Desert Fox- 4/5/2013 9:40:39 PM     Post Reply
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