ATLANTIC CITY-The Revel Casino Hotel owners filed for bankruptcy protection Thursday – the second time in 15 months – warning employees the facility will close without a buyer by Aug. 18.
Revel AC Inc. filed a Chapter 11 petition in US Bankruptcy Court, seeking sale of its assets in the event a buyer is not found by that date. The company, which has been seeking a buyer for the last year, said it expects to continue normal business throughout bankruptcy proceedings.
“Today's announcement follows an extensive strategic review,” said Revel's CEO Scott Kreeger in a statement. “We will work to reach an agreement with a new owner who will help ensure Revel's long-term financial stability and who shares our commitment to providing Revel's guests and players an exceptional experience in lodging, gaming, entertainment and recreation.”
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