Endorsed by Gambling911

Ailing Revel Casino Seeks Help From Lenders

Written by:

Guest

Published on:

Aug/21/2012

Ailing Revel Casino Seeks Help From Lenders

ATLANTIC CITY, N.J. -- (Associated Press) - Atlantic City's newest casino is seeking some breathing room from its lenders.

Following a slow start out of the gate and a $35 million operating loss, Revel is asking its lenders to increase the amount of credit it can draw on.

The casino, which opened in April, has $30 million worth of credit, but wants to increase that to $100 million.

Revel has been mired in 8th place out of Atlantic City's 12 casinos in terms of the amount of money won from gamblers, and analysts say it's not taking in nearly enough to make its interest payments.

Revel CEO Kevin DeSanctis says the extra credit will get Revel through 2013 with a significant cushion.

Business/Financial News

US Recession Betting Odds Give 60% Chance for 2025

Bettors on prediction-market startup Kalshi are assessing the chances of the U.S. economy entering a recession this year at 70%.

Odds on Tariffs - Betting Markets

Facing a global market meltdown, Trump on Wednesday abruptly backed down on his tariffs on most nations for 90 days, but raised the tax rate on Chinese imports to 125%.

Bet on Will the Dow Jones Close Below 30,000 at Market Close Any Time in April

The people who set probabilities for a living are not painting a pretty picture for financial markets.

Looking for the best Pay Per Head Website?

The pay per head service has come to stay, as a great alternative for bookies who want to clear away from having to deal with the hassle and expense of having to establish their own land based operation but want to enjoy the benefits of having their own professional online presence.

Odds of a Recession in 2025 Shoot Up to 60 Percent at Betting Markets

U.S. companies had trillions of dollars in value wiped out Thursday after President Donald Trump slapped sweeping tariffs on foreign imports.