Revel Co-Owner Gets NJ Regulator's OK To Operate Casino

Law360, New York (February 12, 2014, 4:55 PM EST) -- New Jersey casino regulators on Wednesday approved hedge fund Chatham Asset Management LLC as Revel Casino Hotel’s largest equity holder, capping off a months-long vetting of the Atlantic City resort and casino’s new mix of owners following its emergence from bankruptcy last year.

In a unanimous decision, the New Jersey Casino Control Commission approved the suitability of Chatham, its affiliated entities and executives — who together own 28 percent of Revel — as co-owners of Revel. Wednesday’s decision caps off a nine-month investigation into the background...
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