ATLANTIC CITY, N.J. (AP) -- Atlantic City's newest casino says it is worth a fraction of what it cost to build the $2.4 billion resort as it prepares to file for Chapter 11 bankruptcy protection next week.
The Press of Atlantic City, citing filings Revel made to federal regulators this week, reports the casino may not turn a profit for four more years.
Revel says next year may be the first in which it brings in more money than it costs to run the business. When other costs are added, it could be 2017 before Revel operates in the black.
The figures were part of documents filed ahead of Revel's pre-packaged Chapter 11 bankruptcy filing, which is likely to be made on Monday.
Wednesday, June 19 2013 1:16 PM EDT2013-06-19 17:16:13 GMT
Kolcraft is recalling more than 96,000 Jeep Liberty strollers after at least 18 people were injured by tire blowouts, the Consumer Product Safety Commission said Wednesday.
Kolcraft is recalling more than 96,000 Jeep Liberty strollers after at least 18 people were injured by tire blowouts, the Consumer Product Safety Commission said Wednesday.
Wednesday, June 19 2013 8:30 AM EDT2013-06-19 12:30:41 GMT
Natura Pet Products is voluntarily recalling all Innova, California Natural, EVO, Healthwise, Mother Nature and Karma branded dry pet food and biscuit, bar, and treat products with expiration dates prior to June 10, 2014, because of a positive Salmonella test.
Natura Pet Products is voluntarily recalling all Innova, California Natural, EVO, Healthwise, Mother Nature and Karma branded dry pet food and biscuit, bar, and treat products with expiration dates prior to June 10, 2014, because of a positive Salmonella test.
Wednesday, June 19 2013 6:12 AM EDT2013-06-19 10:12:52 GMT
A senior administration official says Gov. Andrew Cuomo and legislative leaders have struck a deal to authorize four upstate casinos and to allow votes on 10 separate women's rights bills including an abortion...
A senior administration official says Gov. Andrew Cuomo and legislative leaders have struck a deal to authorize four upstate casinos and to allow votes on 10 separate women's rights bills including an abortion proposal...
Tuesday, June 18 2013 11:03 PM EDT2013-06-19 03:03:58 GMT
Facebook, which owns Instagram, is expected to announce this week a new video option for the popular photo app. Most likely the feature will be for shortened video clips.
Facebook, which owns Instagram, is expected to announce this week a new video option for the popular photo app. Most likely the feature will be for shortened video clips kind of what you see on Vine.
Tuesday, June 18 2013 2:57 PM EDT2013-06-18 18:57:05 GMT
Chrysler photo via AP
Chrysler said it has resolved its differences with the government and will recall older Jeep Grand Cherokee and Liberty SUVs that could be at risk of a fuel tank fire.
Chrysler said it has resolved its differences with the government and will recall older Jeep Grand Cherokee and Liberty SUVs that could be at risk of a fuel tank fire.
Tuesday, June 18 2013 12:20 PM EDT2013-06-18 16:20:04 GMT
The director of the National Security Agency said Tuesday the government's sweeping surveillance programs have foiled some 50 terrorist plots worldwide, including one directed at the New York Stock Exchange.
The director of the National Security Agency said Tuesday the government's sweeping surveillance programs have foiled some 50 terrorist plots worldwide, including one directed at the New York Stock Exchange.
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.
