Troubled Revel casino may face sale

Revel AC Inc. could be put up for sale as part of a review of strategic options for the $2.6 billion Atlantic City casino that emerged from bankruptcy in May, the company said.

The announcement came Friday as the company said it had doubled the size of a key credit facility to $150 million from $75 million. Revel, which filed for Chapter 11 bankruptcy in March, less than a year after opening, said it would use the proceeds of the new loan to repay $58 million in debt and for working capital.

Revel reported a $122 million operating loss on net revenue of $81 million in the first six months of this year. More than half of its net revenue was consumed by interest payments.

Revel's announcement that it would explore strategic options came two days after the parent of the Atlantic Club Casino Hotel filed for bankruptcy court protection with intent to auction itself off. - Harold Brubaker