Revel has languished near the bottom of Atlantic City's 12 casinos in terms of gambling revenue since opening on April 2, 2012. It posted gross operating losses of $35 million and $37 million in the second and third quarters of last year, and hundreds of millions of dollars in extra financing last year was not enough to get Revel through the winter.The decision to file for bankruptcy was made in early February after lenders indicated they were unwilling to put any more money into Revel without a substantial reduction in its debt.
NJ Revel Bankruptcy Plan Includes Allowing Smoking
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