Accessibility/Mobile Features
Skip Navigation
Skip to Content
Editorial News
Business
Classified Sites

The Canadian Press - ONLINE EDITION

Bankruptcy lawyer: Revel Casino Hotel is 'a melting ice cube' that needs immediate help

This May 30, 2014 photo shows the giant escalator that patrons entering from the Boardwalk must take to get to the casino floor of Revel Casino Hotel in Atlantic City N.J. The $2.4 billion casino filed for bankruptcy on June 19, 2014, the second time in as many years it sought bankruptcy court protection, and warned that it will shut down this summer if a buyer cannot be found. (AP Photo/Wayne Parry)

Enlarge Image

This May 30, 2014 photo shows the giant escalator that patrons entering from the Boardwalk must take to get to the casino floor of Revel Casino Hotel in Atlantic City N.J. The $2.4 billion casino filed for bankruptcy on June 19, 2014, the second time in as many years it sought bankruptcy court protection, and warned that it will shut down this summer if a buyer cannot be found. (AP Photo/Wayne Parry)

CAMDEN, N.J. - A bankruptcy lawyer says Atlantic City's Revel Casino Hotel is "a melting ice cube" that needs immediate help to stay open until a buyer can be found.

The $2.4 billion casino is back in bankruptcy court for the second time in little over a year.

It says it will shut down and fire its 3,170 employees if a buyer can't be found.

Revel lawyer John Cunningham told Judge Gloria Burns on Friday that Revel is losing $2 million a week, and has already lost $75 million this year.

The judge granted temporary permission for the casino to pay employees and vendors, pay taxes and insurance costs and some utility bills.

She also allowed Revel to temporarily use $125 million in financing to get it through bankruptcy court.

  • Rate this Rate This Star Icon
  • This article has not yet been rated.
  • We want you to tell us what you think of our articles. If the story moves you, compels you to act or tells you something you didn’t know, mark it high. If you thought it was well written, do the same. If it doesn’t meet your standards, mark it accordingly.

    You can also register and/or login to the site and join the conversation by leaving a comment.

    Rate it yourself by rolling over the stars and clicking when you reach your desired rating. We want you to tell us what you think of our articles. If the story moves you, compels you to act or tells you something you didn’t know, mark it high.

Sort by: Newest to Oldest | Oldest to Newest | Most Popular 0 Commentscomment icon

You can comment on most stories on brandonsun.com. You can also agree or disagree with other comments. All you need to do is register and/or login and you can join the conversation and give your feedback.

There are no comments at the moment. Be the first to post a comment below.

Post Your Commentcomment icon

Comment
  • You have characters left

The Brandon Sun does not necessarily endorse any of the views posted. Comments are moderated before publication. By submitting your comment, you agree to our Terms and Conditions. New to commenting? Check out our Frequently Asked Questions.

letters

Make text: Larger | Smaller

Brandon Sun Business Directory
The First World War at 100
Why Not Minot?
Welcome to Winnipeg

Social Media

Canadian Mortgage Rates