Morgan Stanley Pulling Out of Revel Project
The news surrounding the stalled Revel casino project in A.C. can go from hopeful to disastrous in just a few days. Right after reports this week that Revel was on the brink of finding new financing from a Chinese bank, comes word that Morgan Stanley, the project’s principal owner, is bailing out of the project.
Revel Entertainment’s chairman and CEO, Kevin DeSanctis, told The Associated Press that the casino will still get built, but the financial negotiations will obviously be effected. Go here for The AP story.