Revel Postpones Bankruptcy Auction

Bloomberg reported Revel AC postponed its auction set for Aug. 7 to Aug. 14 so it can analyze multiple purchase offers it received.

WSJ: Revel Casino Files for Bankruptcy Again

The Wall Street Journal reported that Revel resort and casino filed for Chapter 11 bankruptcy protection, its second trip to bankruptcy court after emerging in May 2013.

JPMorgan Agents $150MM Facility Amendment for Revel

Revel AC announced that the company completed an amendment and restatement of its existing first lien credit. JPMorgan Chase acted as administrative agent.

Revel AC Reduces Debt in Chapter 11 Exit

Revel AC announced that it successfully completed its financial restructuring and emerged from Chapter 11. Its restructuring plan reduced the casino’s debt by 82%.

Revel AC Announces Confirmation of Reorganization Plan

Revel AC announced that the U.S. Bankruptcy Court for the District of NJ has confirmed Revel’s prepackaged plan of reorganization. The plan will reduce Revel’s debt loan from $1.5 billion to $272 million, through an exchange of debt for equity.

Revel Receives Court Approval for $250MM DIP Financing

Revel AC announced that it received final bankruptcy court approval for its $250 million DIP financing to help support and maintain its day-to-day operations throughout its restructuring.

Revel Files Prepackaged Chapter 11 Cases

Revel AC said it has filed its voluntary prepackaged Chapter 11 cases in the U.S. Bankruptcy Court for the District of New Jersey to facilitate its previously announced financial restructuring.

Revel to Restructure Through Chapter 11 Prepack

Revel AC said it has reached an agreement with a majority of its lenders to reduce its debt through a debt-for-equity conversion and plans to implement the restructuring through a prepackaged Chapter 11.

WSJ: Revel Casino Hires Restructuring Lawyers and Bankers

The Wall Street Journal reported that Revel Casino law firm Kirkland & Ellis and investment bank Moelis & Co. to conduct the reorganization of a heavy debt load, which the Journal reported is approximately $1.2 billion.