Revel AC, Inc.

  1. February 09, 2015

    $95.4M Revel Sale Likely Doomed Amid Deadline Impasse

    The $95.4 million sale of Atlantic City's bankrupt Revel Casino Hotel appears doomed, after a lawyer for the Florida developer who inked a deal to purchase the property said in New Jersey federal court Monday that he would not close before a midnight deadline.

  2. February 05, 2015

    Revel Wins Reprieve From Threatened Power Cutoff

    The cash-strapped plant that powers Atlantic City's Revel Casino Hotel agreed Thursday not to pull the plug at the defunct resort for another week, giving lawyers additional time to close on a proposed $95.4 million bankruptcy sale and hammer out a deal on the Revel's unpaid utility bills.

  3. February 03, 2015

    Revel Wants Utility Sanctioned For Cut-Off Threat

    The Revel Casino Hotel filed an emergency motion on Monday asking a New Jersey bankruptcy judge to stop utility ACR Energy Partners LLC from making good on its threat to cut off power to the property on Thursday unless Revel's accrued debts are paid, saying the threat is a "flagrant disregard" of court orders worthy of sanctions.

  4. January 30, 2015

    Revel Creditors Make Peace With $125M Bankruptcy Loan

    Lawyers for the Revel Casino Hotel's unsecured creditors announced a last-minute settlement Friday with bankruptcy lender Wells Fargo NA that hands them a better return in exchange for their support of a strenuously contested $125 million financing package.

  5. January 29, 2015

    Wells Fargo, Revel Creditors Near Deal Over Ch. 11 Loan

    A judge on Thursday backed a settlement slashing the former Revel Casino's property tax assessment by $400 million, but held off ruling on a $125 million financing package from Wells Fargo NA as the bank nears a deal with unsecured creditors that would resolve their objections.

  6. January 28, 2015

    Revel Casino Wins $400M Tax Assessment Reduction

    The former Revel Casino has reached a settlement with Atlantic City that will see its 2015 property tax assessment reduced from $625 million to just $225 million, according to documents filed with the bankruptcy court Wednesday.

  7. January 22, 2015

    Revel Tenants, Utility Told $95M Fire Sale Of Casino Will Go On

    New Jersey's chief federal judge has rejected protests from the Revel Casino Hotel's restaurant partners and on-site utility company regarding a planned $95 million sale to a Florida golf course developer, saying Wednesday evening that questions over the status of their leases weren't strong enough in the face of a $9.5 million monthly carrying cost for the shuttered property.

  8. January 13, 2015

    Revel's Utility Co. Can't Block $95M Ch. 11 Sale

    A New Jersey bankruptcy judge on Tuesday refused to stay the $95.4 million sale of Atlantic City's Revel Casino Hotel to a Florida developer, ruling against the property's utility provider, which argued the sale would preclude the collection of nearly $120 million it's still owed.

  9. January 08, 2015

    Revel Defends $125M Ch. 11 Loan From Creditor Assault

    The judge presiding over the Revel Casino Hotel's bankruptcy postponed a decision on the terms of a $125 million financing package from Wells Fargo NA on Wednesday to consider vehement complaints from unsecured creditors about the associated fees and lender protections.

  10. January 07, 2015

    Wells Fargo Floats Deal To End Revel Creditor Beefs

    Unsecured creditors crossed swords again on Wednesday with the Revel Casino Hotel's bankruptcy lender, which has purportedly proposed a global resolution in the roller coaster Chapter 11 in advance of a hearing on the debtor's request to prioritize repayment of a $125 million financing package.