International edition
June 24, 2021

To finish Atlantic City casino

Revel Entertainment gets US$1 billion financing

(US).- Revel Entertainment has secured the final US$1.15 billion it needs to finish its half-built casino on the Atlantic City Boardwalk. The project is widely considered the best chance for the nation's second-largest gambling market to recover from four years of declining market share and plunging revenue.

G

overnor Chris Christie has committed US$261 million in state tax credits to help Revel once it's open.

Revel was begun in 2007, before the national recession hit and credit markets dried up. It ran out of money in January 2009 and halted work with just the exterior nearing completion.

It will open in the summer of 2012 with 1,100 hotel rooms, and is likely to be Atlantic City's last mega-resort for some time.

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