Revel to remain open during bankruptcy - KMSP-TV

Revel to remain open during bankruptcy

Posted: Updated:
Image courtesy Revel Image courtesy Revel

CAMDEN, N.J. (AP) -- A bankruptcy court judge has agreed to let Atlantic City's newest casino keep the door open and the dice rolling.

Judge Judith Wizmur on Thursday approved a "debtor-in-possession" plan allowing Revel to continue operations while it is in bankruptcy.

The $250 million financing plan lets the casino pay employees, buy supplies, and continue player loyalty programs.

Revel also announced it reached a settlement with Atlantic City over back and future taxes on the $2.4 billion resort. The compromise plan assessed Revel at a higher rate than its owners say it's worth, but lower than the rate Atlantic City sought.

The judge must still rule next month on Revel's plan to eliminate 82 percent of its $1.5 billion debt by converting most of it into equity for lenders.

  • Your MoneyMore>>

  • iPad sales decline

    No, the tablet is not dead

    No, the tablet is not dead

    Thursday, July 24 2014 6:53 PM EDT2014-07-24 22:53:48 GMT
    Apple Inc. photoApple Inc. photo

    Four years ago, tablet owners starting raving about the market's newest piece of mobile technology. Last quarter, Apple iPad sales fell by 9 percent. Still, forecasting the death of the tablet seems premature and incorrect. More likely, all our devices are cross-breeding and evolving until all our calling, emailing, texting, messaging, Internetting, TV watching, all our communication happens on one mobile gadget.


    Four years ago, tablet owners starting raving about the market's newest piece of mobile technology. Last quarter, Apple iPad sales fell by 9 percent. Still, forecasting the death of the tablet seems premature and incorrect. More likely, all our devices are cross-breeding and evolving until all our calling, emailing, texting, messaging, Internetting, TV watching, all our communication happens on one mobile gadget.
  • Dunkin' Donuts cashiers will try to 'upsell' you in the afternoon

    Dunkin' Donuts cashiers will try to 'upsell' you in the afternoon

    Thursday, July 24 2014 2:30 PM EDT2014-07-24 18:30:38 GMT
    Dunkin' Donuts handout photoDunkin' Donuts handout photo
    If an iced coffee from Dunkin' Donuts is part of your afternoon routine, expect a nudge to buy a cookie or doughnut you didn't plan on. Dunkin' Brands CEO Nigel Travis said in a phone interview Thursday that the company is pushing to get its cashiers to "upsell" to afternoon customers. It's part of an effort to increase sales after stores have emptied out after the morning rush.
    If an iced coffee from Dunkin' Donuts is part of your afternoon routine, expect a nudge to buy a cookie or doughnut you didn't plan on. Dunkin' Brands CEO Nigel Travis said in a phone interview Thursday that the company is pushing to get its cashiers to "upsell" to afternoon customers. It's part of an effort to increase sales after stores have emptied out after the morning rush.
  • Cooler inventor raises $7 million in two weeks

    Cooler inventor raises $7 million in two weeks

    Thursday, July 24 2014 11:24 AM EDT2014-07-24 15:24:47 GMT

    What is being described as the coolest cooler of the 21st century is getting a lot of backers via Kickstarter.  Ryan Grepper, an inventor from Portland, Oregon, says he was tired of regular coolers.

    What is being described as the coolest cooler of the 21st century is getting a lot of backers via Kickstarter.  Ryan Grepper, an inventor from Portland, Oregon, says he was tired of regular coolers.

  • New Jersey NewsNew Jersey NewsMore>>

  • Tornado kills N.J. couple in Va. campground

    Tornado kills N.J. couple in Va. campground

    Thursday, July 24 2014 5:06 PM EDT2014-07-24 21:06:16 GMT
    Virginia State Police photoVirginia State Police photo
    A New Jersey couple was killed after a tornado caused a tree to fall on their tent at a popular campground, according to Virginia State Police. Lord Balatbat and Lolabeth Ortega, of Jersey City, were killed Thursday morning as a fierce storm ripped through the campground, police spokeswoman Corinne Geller said.
    A New Jersey couple was killed after a tornado caused a tree to fall on their tent at a popular campground, according to Virginia State Police. Lord Balatbat and Lolabeth Ortega, of Jersey City, were killed Thursday morning as a fierce storm ripped through the campground, police spokeswoman Corinne Geller said.
  • Proposed Quick Chek becoming hot topic for West Orange neighborhood

    Proposed Quick Chek becoming hot topic for West Orange neighborhood

    Thursday, July 24 2014 1:06 PM EDT2014-07-24 17:06:22 GMT
    New Jersey NewsNew Jersey News
    In recent weeks, the St. Cloud neighborhood in West Orange has seen a groundswell of opposition to a proposal by Quick Chek to replace the vacant restaurant at 555 Northfield Ave. 
    In recent weeks, the St. Cloud neighborhood in West Orange has seen a groundswell of opposition to a proposal by Quick Chek to replace the vacant restaurant at 555 Northfield Ave. 
  • State ends hunt for snake in Lake Hopatcong

    State ends hunt for snake in Lake Hopatcong

    Thursday, July 24 2014 12:58 PM EDT2014-07-24 16:58:56 GMT
    Reports of a 16-foot-long exotic snake slithering around New Jersey's largest lake are apparently a suburban legend or the snake just isn't hungry.
    A 16-foot-long exotic snake reportedly slithering around New Jersey's largest lake is apparently a suburban legend. Or the snake just isn't hungry. The state has stopped looking for the reptile after scientists failed to find any evidence of it in Lake Hopatcong and traps baited with chicken were left untouched. Three unconfirmed sightings this month of a snake, perhaps an anaconda as long as 16 feet, raised concerns among visitors and swimmers.
Powered by WorldNow

KMSP-TV
11358 Viking Drive
Eden Prairie, MN 55344

Phone: (952) 944-9999
Fax: (952) 942-0455

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices