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AC’s Revel exits bankruptcy court

By Wayne Parry
Published
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ATLANTIC CITY, N.J. (AP) — Just over a year after it opened, Atlantic City’s newest casino has gone into bankruptcy and gotten out of it, ready to start again.

Revel formally completed a Chapter 11 restructuring Tuesday that saw it wipe away $1.2 billion of its $1.5 billion in debt, in return for granting lenders an 82 percent ownership stake.

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