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AC's Revel Casino to Find it Hard to Recover From Sandy

From the Philadephia Inquirer
AC's Revel Casino to Find it Hard to Recover From Sandy
Sandy delivered a gut punch that Revel, teetering toward insolvency even before the hurricane, will be hard-pressed to recover from, gaming-industry analysts say.

There is little hope in the foreseeable future, the analysts say, that Revel will avoid defaulting on its massive debt - not with a key demographic group, affluent overnight customers from North Jersey and New York, now spending their disposable income on cleaning up from the storm.

"There is no doubt the probability of default has increased," Andrew Zarnett of Deutsche Bank AG said Wednesday. "There is no way to dispute that, given what has happened to Atlantic City the last two weeks." Click here for the full story.


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