![]() ![]() It ran out of money in January 2009 and halted work with just the exterior nearing completion. Revel was begun in 2007, before the national recession hit and credit markets dried up. "We think we will have a really positive impact on Atlantic City and South Jersey."īob Griffin, CEO of Trump Entertainment Resorts and president of the Casino Association of New Jersey, said Revel's resumption marks "the rebirth of Atlantic City." "We're extremely pleased to be moving forward," DeSanctis said. ![]() In what was surely an understatement, he described himself as "a little relieved." The remaining $1.15 billion in financing was secured Thursday, and work on the stalled $2.4 billion project will resume as quickly as possible, Kevin DeSanctis, Revel's CEO, told The Associated Press. Revel Entertainment said Thursday it has secured the final $1 billion-plus it needs to finish its half-built casino on the Atlantic City Boardwalk, a project that is widely considered the best chance for the nation's second-largest gambling market to recover from four years of plunging revenue. ![]()
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