Revel: 4 years away from profit - FOX 35 News Orlando

Revel: 4 years away from profit

Posted: Updated:

ATLANTIC CITY, N.J. (AP) -- Atlantic City's newest casino says it is worth a fraction of what it cost to build the $2.4 billion resort as it prepares to file for Chapter 11 bankruptcy protection next week.

The Press of Atlantic City, citing filings Revel made to federal regulators this week, reports the casino may not turn a profit for four more years.

Revel says next year may be the first in which it brings in more money than it costs to run the business. When other costs are added, it could be 2017 before Revel operates in the black.

The figures were part of documents filed ahead of Revel's pre-packaged Chapter 11 bankruptcy filing, which is likely to be made on Monday.

  • Your MoneyMore>>

  • Beach fashion

    Long-sleeved swimsuit is latest beach and pool fashion trend

    Long-sleeved swimsuit is latest beach and pool fashion trend

    Monday, July 21 2014 6:13 PM EDT2014-07-21 22:13:49 GMT
    You have lots of ways to look stylish on the beach, from a bikini to a tankini to a one piece. But the newest trend is long-sleeved swimsuits -- modesty takes precedence over a golden glow. The new beachwear is turning up on sites like ASOS and on luxury sites like Neiman Marcus. There are one piece versions and crop top versions.One of the pioneers of the trend is Dallas-based clothing company Cover.
    You have lots of ways to look stylish on the beach, from a bikini to a tankini to a one piece. But the newest trend is long-sleeved swimsuits -- modesty takes precedence over a golden glow. The new beachwear is turning up on sites like ASOS and on luxury sites like Neiman Marcus. There are one piece versions and crop top versions.One of the pioneers of the trend is Dallas-based clothing company Cover.
  • Wawa to close first store opened 50 years ago

    Wawa to close first store opened 50 years ago

    Monday, July 21 2014 3:01 PM EDT2014-07-21 19:01:43 GMT
    Wawa plans to close the first convenience store opened by the chain in the Philadelphia suburbs a half-century ago.  Susan Bratton, Wawa's regional real estate manager, says the old store is just too small.
    Wawa plans to close the first convenience store opened by the chain in the Philadelphia suburbs a half-century ago.  Susan Bratton, Wawa's regional real estate manager, says the old store is just too small.
  • Cable company customer service rage

    Cable company customer service rage

    Wednesday, July 16 2014 10:58 PM EDT2014-07-17 02:58:18 GMT
    Find someone, anyone, with cable TV who hasn't had at least one miserable experience dealing with that company's customer service people and you've accomplished something we couldn't. But in fairness to the cable companies, whose business model at this point resembles that of a cartel, as customers we don't always handle system outages or the explanations for them in the most mature fashion.
    Find someone, anyone, with cable TV who hasn't had at least one miserable experience dealing with that company's customer service people and you've accomplished something we couldn't. But in fairness to the cable companies, whose business model at this point resembles that of a cartel, as customers we don't always handle system outages or the explanations for them in the most mature fashion.
Powered by WorldNow

35 Skyline Drive
Lake Mary, FL 32746

Phone: (407) 644-3535
News Tips: (866) 55-FOX35

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