According to data from the New Jersey Division of Gaming Enforcement, the $2.4bn resort generated the second lowest gambling revenue among the market’s 12 resorts in January 2013.Īccording to paperwork filed at a bankruptcy court in Camden, New Jersey, Revel listed debts of around $1.52bn and assets of $1.1bn. Revel, which opened its doors on 2 April 2012, has struggled to meet the expectations of its backers.
The group filed a bankruptcy plan which would turn control of the resort over to its lenders and eliminate almost $1bn of the company’s debts. Revel Entertainment Group, the owners of floundering casino Revel Atlantic City, filed for Chapter 11 bankruptcy in late March, less than a year after the casino opened for business.
