The new revolving credit facility is expected to price at LIBOR plus 750 basis points, without significantly altered terms to its existing credit facility, according to the company.

Kevin DeSanctis, chairman and CEO of Revel said that the credit hike would provide a comfortable “liquidity cushion through 2013 and beyond,” for the resort, which took a rather unexpectedly hard bounce after opening with first-class fanfare and government backing in April.

The new casino – backed by Gov. Chris Christie, influential lawmakers, and state gaming officials as the way for Atlantic City to regain its spot as the nation’s Number Two gaming revenue producer– had a net operating loss of $35 million in its first months, according to the gaming authority.

Still, state officials and several analysts have said this amounts to a simple cash-flow issue and is not entirely out of the ordinary for a start-up resort attraction in a difficult economy. DeSanctis says: “We are excited about what we have delivered from a product and experience perspective and remain confident our strategy and differentiated economic model will result in significant value creation for our stakeholders.”

Furthermore, there is evidence that Revel’s non-gaming revenues – from hotel rental, food and beverage, retail and entertainment - are very respectable to date. Almost all of a reported 13 % increase in revenue for New Jersey casinos overall in the second quarter of this year over last was attributable to Revel’s debut, according to the state Division of Gaming Enforcement recent estimation.

Revel opened as a 1,800-room oceanfront resort/casino, with the emphasis on “resort.” The facility was designed as a smoke-free, ocean-side getaway, and offers live entertainment events day and night, pools, gardens, and a 32,000-square-foot spa, along with 14 different eateries and a collection of boutiques.