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An Atlantic City casino project backed by Morgan Stanley (MS Quote) has not been able to attract sufficient financing, creating another headache for the firm at a time when it is fighting to secure its future.
Widespread reports have said the New Jersey project will cost at least $2 billion. However, a source close to Morgan Stanley says that number is too high, though this person wouldn't say by how much.
For now, Morgan Stanley is the project's only financial backer to be publicly announced. The casino will be operated by a newly created company called Revel Entertainment. ...
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