No Smoking Revel Going Up in Smoke with Bankruptcy

No Smoking Revel Going Up in Smoke with Bankruptcy

Just times in short supply of a year because it started to fanfare that is great Atlantic City’s no smoking casino experiment Revel is looking to declare themselves bankrupt, 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 debt will now be converted into $1 billion in equity for the casino’s eager creditors, and a brand new CEO, Jeffrey Hartman (formerly of the Mohegan Sun in Connecticut) will take over the reins of the faltering mare.

Resignations Are a Whole Lot

Hartman gets control for recently departed Walk of Shamers ex-CEO Kevin deSanctis and Chief Investment Officer Michael Garrity; thankfully, this is not Japan, or there would be entrails that are intestinal the penthouse to the parking lot by now. Nope, this is America, where a smartly negotiated contract when you sign up gets that you well-paid trip when you are axed; so DeSanctis and Garrity not merely reach stick to with the Revel brand, they are able to also look ahead to about $7 million in consulting charges for the remainder year. Is that each or together? We’re perhaps not sure, but our cap goes off to their solicitors: well-played, counselors, well-played!

Smoke Signals

Although Atlantic City overall has been in a nosedive that is financial (attributed to everything from Hurricane Sandy to an unclear marketing pl

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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, private butlers, professional chefs gourmet that is preparing right in your living space: that is nothing new to your high-rollers, (aka ‘whales’) of the gambling world. Those who can afford to gamble anywhere from high six-figures appropriate on into the millions expect you’ll be courted like the chick that is hottest in the course by casinos all on the world, and to the victor go the spoils. When you’re prepared to blow a half-million over a weekend’s gambling foray, gambling enterprises will be more than happy to make it as pleasant an event as possible, and nobody does this better than the casinos of Las Vegas.

But now Bellagio, long-known as you of las vegas’s swanker joints, is offering something that just might create 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 sort of extravagance doesn’t come cheap, however. ‘The customer must be ready to risk $300,000,’ said Debra Nutton, senior vice-president of casino relations at the Bellagio, where the decadent private salon, known as Villa Privé, is located away from the hoi polloi, on the resort level’s exclusive Villa grounds.

Turns out that is not even the casino being greedy; it’s due to strict gaming regulations that control priva

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