Atlantic City's Revel casino gets $150M more in financing - FOX 10 News | fox10phoenix.com

Atlantic City's Revel casino gets $150M more in financing

Photo courtesy Revel Entertainment Photo courtesy Revel Entertainment

By WAYNE PARRY | AP

ATLANTIC CITY, N.J. (AP) - Revel, Atlantic City's newest casino that has struggled to find a place in the seaside gambling market, has obtained another $150 million in financing to help keep it going.

The casino resort said it amended its agreement with JP Morgan Chase Bank to provide for additional money to help pay down existing debt and to fund operations. Most of it consists of a new $125 million loan.

Since opening in April, Revel has ranked near the bottom of Atlantic City's 12 casinos in the amount of money won from gamblers. But its executives said Revel's business model relies more on room and restaurant revenues than do other casinos.

Revel CEO Kevin DeSanctis said the company will add a new high-limit slots area, and new restaurant and entertainment options.

  • Your MoneyMore>>

  • Home Depot probes possible credit card data breach

    Home Depot probes possible credit card data breach

    Tuesday, September 2 2014 5:29 PM EDT2014-09-02 21:29:43 GMT
    Home Depot may be the latest retailer to suffer a credit card data breach.  The Atlanta-based home improvement retailer told The Associated Press Tuesday that it is looking into "unusual activity" and working with both banks and law enforcement.
    Home Depot may be the latest retailer to suffer a credit card data breach.  The Atlanta-based home improvement retailer told The Associated Press Tuesday that it is looking into "unusual activity" and working with both banks and law enforcement.
  • Some fear auto industry returning to bad habits

    Some fear auto industry returning to bad habits

    Tuesday, September 2 2014 3:29 PM EDT2014-09-02 19:29:56 GMT
    Big discounts. Six- or seven-year loans, in some cases to buyers who would have been turned down in the past.  As the auto industry strives to sustain its post-recession comeback, car companies are resorting to tactics that some experts warn will lead to trouble down the road.
    Big discounts. Six- or seven-year loans, in some cases to buyers who would have been turned down in the past.  As the auto industry strives to sustain its post-recession comeback, car companies are resorting to tactics that some experts warn will lead to trouble down the road.
  • Business is good at Coney Island

    Business is good at Coney Island

    Friday, August 29 2014 10:22 PM EDT2014-08-30 02:22:32 GMT
    From the brand-new Thunderbolt roller coaster to the world-famous boardwalk, tourists and business owners alike say Coney Island had a great ride of its own this summer. Toms Coney Island's general manager Vasilios Tourlokas says the mild summer impacted his boardwalk business in the best way possible: a 10 to 15 percent increase.
    From the brand-new Thunderbolt roller coaster to the world-famous boardwalk, tourists and business owners alike say Coney Island had a great ride of its own this summer. Toms Coney Island's general manager Vasilios Tourlokas says the mild summer impacted his boardwalk business in the best way possible: a 10 to 15 percent increase.
  • New Jersey NewsNew Jersey NewsMore>>

  • Lawyer says family of girl with Uzi is devastated

    Lawyer says family of girl with Uzi is devastated

    Tuesday, September 2 2014 10:00 PM EDT2014-09-03 02:00:24 GMT
    An attorney for the parents of a 9-year-old girl who accidentally killed an Arizona shooting range instructor with an Uzi say the family is devastated by the tragedy that occurred on a brief excursion during a...
    An attorney for the parents of a 9-year-old girl who accidentally killed an Arizona shooting range instructor with an Uzi say the family is devastated by the tragedy that occurred on a brief excursion during a vacation.
  • Deadly crash in Lincoln Tunnel

    Deadly crash in Lincoln Tunnel

    Tuesday, September 2 2014 8:15 PM EDT2014-09-03 00:15:54 GMT

    Officials say a New Jersey man has died from injuries he suffered in a chain-reaction crash inside one of the tubes of the Lincoln Tunnel.  Port Authority of New York and New Jersey police spokesman Joe Pentangelo says the 49-year-old Summit resident was among three people hurt in the accident.


    Officials say a New Jersey man has died from injuries he suffered in a chain-reaction crash inside one of the tubes of the Lincoln Tunnel.  Port Authority of New York and New Jersey police spokesman Joe Pentangelo says the 49-year-old Summit resident was among three people hurt in the accident.



  • $1M Powerball ticket sold in NJ set to expire

    $1M Powerball ticket sold in NJ set to expire

    Tuesday, September 2 2014 2:23 PM EDT2014-09-02 18:23:45 GMT
    State lottery officials say a Powerball ticket worth $1 million that was sold at a northern New Jersey convenience store last year will soon expire.
    State lottery officials say a Powerball ticket worth $1 million that was sold at a northern New Jersey convenience store last year will soon expire.
Powered by WorldNow

KSAZ-TV & KUTP
511 W. Adams St.
Phoenix, AZ 85003

Phone: (602) 257-1234
Fax: (602) 262-0177

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | New Terms of Service What's new | Ad Choices