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Revel AC, Inc.

  1. November 17, 2014

    Revel's Unsecured Creditors Say DIP Request Cheats Them

    The unsecured creditors in the Revel Casino Hotel's bankruptcy blasted the debtors in a New Jersey bankruptcy court filing on Friday, saying the estate will be insolvent if the court allows Revel to prioritize repayment of a $125 million debtor-in-possession loan from Wells Fargo NA.

  2. November 07, 2014

    Atlantic City Can Collect $20M In Unpaid Revel Taxes

    Atlantic City, New Jersey, will be allowed to collect at least $20 million in unpaid property taxes owed by the bankrupt Revel Casino Hotel after a judge on Thursday granted the city's request to lift the automatic stay in Revel's Chapter 11 case to permit a planned sale of a tax lien on the hotel.

  3. October 28, 2014

    Atlantic City Says Stay On Revel Casino Would Ruin Budget

    Atlantic City, New Jersey, told a bankruptcy judge Monday that its request to lift an automatic stay on the bankrupt Revel Casino Hotel should not be denied as scrapping a planned sale of a tax lien on the hotel at the end of the year would significantly impair the city's budget.

  4. October 20, 2014

    Revel Auction Loser Can't Void Brookfield Sale, Judge Says

    A New Jersey bankruptcy judge on Monday formally rebuffed a motion to invalidate the auction of Atlantic City's bankrupt Revel Casino Hotel, dismissing a losing bidder's claims of a tainted auction days after the bidder filed notice of appeal.

  5. October 07, 2014

    NJ Judge OKs Revel Sale Despite Losing Bidder's Protest

    A New Jersey bankruptcy judge on Tuesday approved the sale of Atlantic City's bankrupt Revel Casino Hotel to Brookfield US Holdings for $110 million, dismissing a Florida developer's complaints that the bankruptcy auction lacked transparency and was unfairly tipped in Brookfield's favor.

  6. October 06, 2014

    Revel Auction Loser Straub Challenges Sale to Brookfield

    A Florida real estate developer on Sunday urged New Jersey's bankruptcy court to invalidate the auction of the Revel Casino Hotel in Atlantic City, New Jersey, arguing the process by which Brookfield Property Partners won with a $110 million bid was tainted by secrecy and bad faith.

  7. October 01, 2014

    Brookfield Wins Revel With $110M Bid, Will Reopen As Casino

    Atlantic City, New Jersey's bankrupt Revel Casino Hotel on Wednesday fetched $110 million at auction, purchased by Brookfield Property Partners, a Canadian real estate company, which said it plans to reopen the beleaguered property as a casino.

  8. September 30, 2014

    Revel Draws 2nd Bidder As Stalking Horse Bidder Objects

    A bankruptcy auction for Atlantic City, New Jersey's Revel Casino Hotel grew contentious on Tuesday as a Florida developer added $5 million to his $90 million stalking horse bid to fend off a competitor and demanded a judge sanction Revel, calling the auction opaque and unfair.

  9. September 24, 2014

    Revel Auction Goes On Hiatus With No Winning Bid

    A bankruptcy auction for Atlantic City, New Jersey's, shuttered Revel Casino Hotel came and went on Wednesday without producing a winning bid, leaving it unclear if a dark horse would top a Florida developer's $90 million offer.

  10. September 15, 2014

    Revel Bankruptcy Judge OKs Auction For $90M Stalking Horse

    A New Jersey bankruptcy judge on Monday approved an auction for the Revel Casino Hotel to facilitate a $90 million stalking horse bid, greenlighting a $3 million breakup fee and an expedited schedule out of concern the bid may be Revel's last chance to liquidate.

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