Atlantic City's Revel casino gets $150M more in financing
Photo courtesy Revel Entertainment
By WAYNE PARRY | AP
ATLANTIC CITY, N.J. (AP) - Revel, Atlantic City's newest casino that has struggled to find a place in the seaside gambling market, has obtained another $150 million in financing to help keep it going.
The casino resort said it amended its agreement with JP Morgan Chase Bank to provide for additional money to help pay down existing debt and to fund operations. Most of it consists of a new $125 million loan.
Since opening in April, Revel has ranked near the bottom of Atlantic City's 12 casinos in the amount of money won from gamblers. But its executives said Revel's business model relies more on room and restaurant revenues than do other casinos.
Revel CEO Kevin DeSanctis said the company will add a new high-limit slots area, and new restaurant and entertainment options.
Monday, June 17 2013 10:10 AM EDT2013-06-17 14:10:37 GMT
For the first time in seven years, most U.S. homebuilders are optimistic about home sales, a sign that construction could help drive stronger economic growth in coming months.
For the first time in seven years, most U.S. homebuilders are optimistic about home sales, a sign that construction could help drive stronger economic growth in coming months.
Saturday, June 15 2013 7:27 PM EDT2013-06-15 23:27:36 GMT
TRENTON, N.J. (AP) — Motorists are seeing stable prices at the pumps in New Jersey.AAA Mid-Atlantic says the average price of a gallon of regular gasoline in New Jersey on Friday was $3.40, the same price as last week. It's also the same price motorists were paying a year ago.The national average price also remained stable, coming in at $3.63 for the second straight week.
TRENTON, N.J. (AP) — Motorists are seeing stable prices at the pumps in New Jersey.AAA Mid-Atlantic says the average price of a gallon of regular gasoline in New Jersey on Friday was $3.40, the same price as last week. It's also the same price motorists were paying a year ago.The national average price also remained stable, coming in at $3.63 for the second straight week.
Friday, June 14 2013 12:14 PM EDT2013-06-14 16:14:45 GMT
Stocks are turning lower in midday trading on Wall Street at the end of a volatile week.The Dow Jones industrial average was down 67 points, or 0.5 percent, at 15,106 as of noon Eastern time Friday. The Dow had surged 180 points the day before.
Stocks are turning lower in midday trading on Wall Street at the end of a volatile week.The Dow Jones industrial average was down 67 points, or 0.5 percent, at 15,106 as of noon Eastern time Friday. The Dow had surged 180 points the day before.
Friday, June 14 2013 9:03 AM EDT2013-06-14 13:03:06 GMT
As we close in on summer, we are all dreaming of a summer vacation. But how can you make it affordable?One way is by using those credit card points and miles you've accumulated over the year.
As we close in on summer, we are all dreaming of a summer vacation. But how can you make it affordable?One way is by using those credit card points and miles you've accumulated over the year.
Friday, June 14 2013 7:05 AM EDT2013-06-14 11:05:39 GMT
Boy Scouts of America says it is disappointed Caterpillar Inc. will no longer give money to the group.But public relations director Deron Smith on Thursday thanked the Peoria-based heavy equipment manufacturer for its past support.
Boy Scouts of America says it is disappointed Caterpillar Inc. will no longer give money to the group.But public relations director Deron Smith on Thursday thanked the Peoria-based heavy equipment manufacturer for its past support.
Thursday, June 13 2013 6:15 PM EDT2013-06-13 22:15:30 GMT
Law enforcement officials nationwide are demanding the creation of a "kill switch" that would render smartphones inoperable after they are stolen, New York's top prosecutor said.
Law enforcement officials nationwide are demanding the creation of a "kill switch" that would render smartphones inoperable after they are stolen, New York's top prosecutor said.
Thursday, June 13 2013 6:02 PM EDT2013-06-13 22:02:05 GMT
Bargain hunters from around the world flock to Manhattan's Chinatown for bags, jewelry and other accessories bursting onto sidewalks from storefronts along Canal Street.
Bargain hunters from around the world flock to Manhattan's Chinatown for bags, jewelry and other accessories bursting onto sidewalks from storefronts along Canal Street.
Photo courtesy Revel Entertainment
