Ocean Casino Resort News - Page 9

Revel Casino Hotel's problems with its "You Can't Lose" promotion go beyond a potential class action lawsuit. Casino City has learned that at least two other gamblers have filed complaints with the New Jersey Division of Gaming Enforcement for denying refunds to advantage players. And as of now, the players and the casino have not reached a settlement in the dispute.

Atlantic City casinos see overall decline of 5 percent in revenue, but happy results for some individual casinos.

The suit alleges that those rules, including a stipulation that losses would be refunded over 20 weeks beginning August 5, were “virtually illegible fine print.”

Q2 healthier for some Atlantic Casinos.

Revel saw better results for July 2013, figures show.

Casino City's Vin Narayanan and Aaron Todd discuss Revel's decision to shut down its poker room, Poker Night in America's open casting call and the choosing of teams for all-star games. And as always, they make their best bets in the most degenerate five minutes in podcasting.

Property experiences 16% slot market share growth in first month post-bankruptcy.

Casino City's Vin Narayanan and Aaron Todd discuss The Players Championship at the World Series of Poker, Ultimate Gaming's entry into the New Jersey online gaming market and the fine print on Revel's bonus offer.

Revel is revising its name to Revel Casino Hotel and prioritizing the gambling floor in its new marketing strategy.

Casino City's Vin Narayanan and Aaron Todd discuss Revel's new strategy to attract slot players, whether the "most cashes" record at the WSOP means anything and Sheldon Adelson's rant against online gambling. And in the most degenerate 5 minutes in podcasting, they make their best bets for the week.

Revel will refund all slot losses in July and match all competitor slot offers.

Last Monday, a judge approved the restructuring plan, which gives 82 percent ownership stake to the property’s lenders in return for canceling $1.2 billion in debt.

Revel expects to emerge from Chapter 11 before the end of May after the conditions to effectiveness of the plan are satisfied.

Casino City's Vin Narayanan and Aaron Todd discuss the odd debate surrounding sports betting kiosks in Nevada, the demise of budget hotels on the Las Vegas Strip and Revel's decision to allow smoking in their resort. They also recap their NCAA tournament brackets and make some more NCAA picks in the best bets segment.

The Atlantic City property expects to emerge from Chapter 11 by early summer.

Revel expected to file for Chapter 11 in court on Monday and begin process of financial restructuring.

Revel has appointed Jeffrey Hartmann as Revel AC’s Interim Chief Executive Officer, subject to regulatory approval.

Revel plans to implement the restructuring through voluntary, prepackaged Chapter 11 cases, and intends to complete the restructuring early this summer.

No taxpayer funds will be used to finance the restructuring, the company said.

Wall St Journal reporting Revel has hired lawyers incase of possible bankruptcy.