No Deposit Bonus : SlotsLv casino currently is offering everyone a $22 no deposit bonus. New Players Only. Fully Cashable. USA and Canadian Players are welcome. Please see our SlotsLv review page for the no deposit bonus info. SlotsLv Review
Best USA Casino Bonus
Big Casino Bonus : All USA Players Welcome: Bovada Casino the #1 USA Online Casino offering all new signups a $3000 table game and slots bonus + weekly cash back. All new accounts qualify thru our link. No codes needed. For full bonus information please see our Bovada Bonus review.
Revel to file for Chapter 11 bankruptcy
Wednesday February 20,2013 : ATLANTIC CITY'S NEWEST LAND CASINO IN FINANCIAL STRAITS
Revel to file for Chapter 11 bankruptcy
Less than a year ago New Jersey gambling industry observers were hoping that the launch of the new Revel land casino would revitalise Atlantic City's ailing land gambling industry, but this week the operation announced that it has applied for Chapter 11 bankruptcy late next month.
The voluntary move is designed to wipe away about two-thirds of Revel's $1.5 billion debt by converting more than $1 billion of it into equity for lenders.
Kevin DeSanctis, Revel's CEO, said the restructuring will give the casino resort more flexibility to operate.
"Today's announcement is a positive step for Revel," DeSanctis told the Associated Press news agency. "The agreement we have reached with our lenders will ensure that the hundreds of thousands of guests who visit Revel every year will continue to enjoy a signature Revel experience in our world-class facility."
The positive news is that existing management will remain in place, no layoffs are planned, and employees and vendors will be paid as usual, the company said.
After struggling for most of its brief existence, which included seeking two further rounds of financing, the $2.4 billion enterprise failed to make the Atlantic City impact most hoped it would as the region struggled against the economic climate and growing competition from neighbouring states.
Losses mounted, and during the second and third quarters of last year, the enterprise reported gross operating losses of $35 million and $37 million.
Revel officials have been reviewing their options in recent months as the Atlantic City market continued to decline and its own revenues languished. DeSanctis told Associated Press that the company and its lenders decided that a pre-packaged Chapter 11 would be the best way to improve its balance sheet by eliminating substantial debt and increasing the chances for growth.
As part of the restructuring, some of Revel's lenders will provide approximately $250 million in debtor-in-possession financing, about $45 million of which constitutes new money commitments and approximately $205 million of which is pre-petition debt. No taxpayer funds will be used to finance the restructuring, the casino said.
The company didn't identify which lenders will be part of the filing; revealing only that "a majority" of its lenders have agreed.
Gambling News :
Oink Country Love Slot Launches -
Oink Country Love will have players tapping their feet to the country beat with the lovable Oink Bros, Willy and Chancho, who are trying to win over the heart of Miss Southern Charm in this five by three reel, 45-line online slot.
Tim Chung Wins MPNPT Manchester -
The 288-runner £550 MPNPT Manchester Main Event today crowned its champion, awarding the bulk of the £150,000 total prizepool to the nine players surviving after two days of tournament poker at the Grosvenor Casino.
MPNPT Manchester Day 2 -
Day 2 of the £550 MPNPT Manchester Main Event saw 60 Day 1 survivors (from a total of 288 entries) and three intrepid last-minute registrants sit down to play to the final table.
Day 1B MPN Poker Tour Manchester -
Day 1B of the £550 MPNPT Manchester Main Event saw the field rise to 285, as players took full advantage of the whole-day re-entry period.
Day 1A MPNPT Manchester -
The £150,000 guaranteed MPNPT Manchester kicked off today in style – 74 poker players from all over Europe arriving at the Grosvenor Casino to contend the first of two starting days
Kung Fu Rooster Slot Goes Live -
Celebrate Chinese New Year - 2017 Year of the Rooster. It's time to sweep away any ill-fortune and make way for incoming good luck, with this exciting 12 lines slot game.
Sensational Sixes Slot Goes Live -
Light up Icons like BAR's, black spades, red hearts, blue diamonds, and green clubs. The best part of Sensational Sixes are the three wild icons, for 2X, 4X, and 6X multipliers!
3 New Betsoft Slots -
3 new Betsoft slot Games were also added this week to most online casinos allowing US players.
2017 Bodog Super Millions Poker Open -
The first events on the 105-tournament schedule have already been completed; there are three more tourneys on Thursday’s schedule, with a total of $34,000 in guaranteed prize money waiting to be won.
Pokerstars Pulls Out Of Coloumbia -
Pokerstars Has taken the decision to cease offering real money services to players located in, playing from or resident within Colombia, effective from the 17th of July 2017.
Please Note : Gambing might not be legal in your area. We bring you www.recentpoker.com as an information and gambling news site only. We hope that you find all the information and gambling news found in www.recentpoker.com to your liking. Please tell your friends about us and visit us again soon.