SENATE PRESIDENT: REVEL CASINO IN BAD FINANCIAL SHAPE

New Jersey Senate President Steve Sweeney is not mincing any words regarding the financial condition of Atlantic City’s $2.4 billion Revel Casino.  Sweeney penned a letter to the New Jersey Division of Gaming Enforcement alleging that Revel has already burned through $100 million in extra cash needed to operate into 2013.  Sweeney also believes the casino is trying to secure additional funding just in order to survive.  Sweeney says Revel has failed to pay $12 million in taxes and Atlantic City has already issued a tax sale notice.