Revel exits from Chapter 11 bankruptcy

05/22/2013 | Press of Atlantic City (N.J.), The

Atlantic City's Revel resort casino completed its exit from Chapter 11 bankruptcy protection Tuesday. Part of Revel's reorganization involved a debt-for-equity exchange that gives lenders an 82% stake in the company. Its marketing strategy also will be changing to focus more on the resort's casino offerings. "We view this as a significant milestone for Revel and now turn our undivided attention towards growing our casino revenue base and are singularly focused on attracting guests to the property," said Jeff Hartmann, Revel's interim CEO.

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Press of Atlantic City (N.J.), The

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