Atlantic City Casino Looking To Restructure DebtWSJ Reports That Operating Firm Has $1.2 Billion Worth Of Debt |
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One of the latest moves out of Atlantic City, which will soon have legal online gaming, is a plan to restructure debt by Revel Casino, The Wall Street Journal reported.
The gambling operation opened last spring and has been underwhelming ever since. It took six years to complete and required an additional $1.1 billion investment in 2011. Revel reportedly has about $1.2 billion worth of debt currently.
Since it opened, the casino has been one of the worst performers in Atlantic City. However, the town as a whole has been struggling over the past handful of years.
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