Atlantic City’s Revel to Get a New Bidder
Kevin DeSanctis, the CEO of the upcoming Revel casino in Atlantic City, announced that he will be a bidder for a large part of the Revel project. He has stated to the East Coast Gaming Conference that he will be putting his name in to help with getting the remaining construction work to be finished on the casino.
DeSanctis has stated that he is looking to get a bid in as a means of finding another investor who will be funding the remaining construction work for the Revel. He has been consulting a Chinese bank in recent days about getting a billion dollars in financing to finish the job.
The announcement comes a month after Morgan Stanley announced that it would be pulling out of the Revel plan. The investment giant had invested $1.2 billion in the casino
The Revel will be located on the Boardwalk of Atlantic City. The exterior construction is almost completed on the casino. The interior construction is expected to take at least a year to handle. The casino was supposed to have opened this year but its open date has been pushed back to 2012. This is due to concerns about the funding for the casino and the ongoing slump in the Atlantic City economy.
