No Smoking Revel Going Up in Smoke with Bankruptcy

No Smoking Revel Going Up in Smoke with Bankruptcy

Just days in short supply of a 12 months as it launched to great fanfare, Atlantic City’s no smoking casino experiment Revel is looking to declare bankruptcy, considering federal securities regulators’ disclosure statements the casino filed early in the day this week. Through the miracle of high finance sleight-of-hand, some $1.5 billion in staggering financial obligation will now be converted into $1 billion in equity for the casino’s eager creditors, and a new CEO, Jeffrey Hartman (formerly of the Mohegan Sun in Connecticut) will take the reins over with this faltering mare.

Resignations Certainly Are a Lot

Hartman gets control of for recently departed Walk of Shamers ex-CEO Kevin deSanctis and Chief Investment Officer Michael Garrity; thankfully, this is not Japan, or there is abdominal entrails from the penthouse to your parking lot by now. Nope, this is America, the place where a smartly negotiated contract when you sign up gets that you ride that is well-paid you’re axed; therefore DeSanctis and Garrity not merely reach stay on with the Revel brand, they can also look ahead to about $7 million in consulting charges for the rest of the year. Is that each or together? We’re not certain, but our hat goes off to their lawyers: well-played, counselors, well-played!

Smoke Signals

Although Atlantic City overall has been in a economic nosedive recently (attributed to everything from Hurricane Sandy to an unclear marketing pla

Private Casino, Sir? Bellagio Raises the Bar for High-Roller Offerings with Villa Privé

Private Casino, Sir? Bellagio Raises the Bar for High-Roller Offerings with Villa Privé

Massive penthouse suites, personal butlers, professional chefs preparing premium dishes right in your living space: that’s nothing new to your high-rollers, (aka ‘whales’) of the gambling world. People who can manage to gamble anywhere from high six-figures right on into the millions expect to be courted such as the hottest chick in the class by casinos all over the world, and to the victor go the spoils. Whenever you’re prepared to blow a half-million over a week-end’s gambling foray, gambling enterprises will be much more than happy to make it since pleasant an experience as possible, and nobody does this a lot better than the casinos of Las Vegas.

But now Bellagio, long-known as one of las vegas’s swanker joints, is offering something that simply will make other casinos look a tad bourgeois: for a price, you can have an entire casino designated just for you personally along with your hand-selected, carefully monitored guests.

$300,000 Minimum to Book It

This type of extravagance doesn’t however come cheap. ‘The customer must be ready to risk $300,000,’ stated Debra Nutton, senior vice-president of casino relations at the Bellagio, where the decadent salon that is private known as Villa Privé, is located away from the hoi polloi, on the resort level’s exclusive Villa grounds.

Turns out that is not the casino being greedy; it is due to strict gaming regulations that