ATLANTIC CITY — Revel announced Monday, March 25, that in order to facilitate its previously announced financial restructuring, the company has filed its voluntary prepackaged Chapter 11 cases in the U.S. Bankruptcy Court for the District of New Jersey.
Being that the reorganization plan will reduce its debt by more than 82 percent, a super-majority of Revel’s lenders voted in favor the movement that will minimize a $1.52 billion debt to $272 million. If all goes according to plan, the restructuring should not affect Revel’s guests or guest services, entertainment and events will carry on as scheduled, and the status and wages of Revel employees will feel no impact.
“Backed by overwhelming lender support, we remain on track to complete our financial restructuring ahead of the critical summer season,” said Jeffrey Hartmann, Revel’s Interim CEO, in a media release regarding the announcement. “We will emerge from this recapitalization positioned for long-term success, with the financial capacity to pursue our amenity enhancement opportunities, and the ability to continue providing our guests with a signature Revel experience.”
Approximately $250 million in debtor-in-possession financing (DIP) will be provided by some of Revel’s lenders, in addition to the approximate $42 million constituting of new money commitments, and approximate $208 million constituting pre-petition debt. Revel will additionally obtain $335 million in exit financing, which will provide the resort with working capital, fund certain capital expenditures, repay the DIP financing, and pay expenses related to the restructuring upon emerging from Chapter 11.
The restructuring is expected to be complete within 45 to 60 days and emergence from Chapter 11 by early summer. — Casey Harper
ATLANTIC CITY — The Atlantic City Convention & Visitors Authority (ACCVA) held its annual Holiday Reception at One Atlantic City restaurant at Revel on Tuesday evening, Nov. 27 — “Giving Tuesday” — where invited guests contributed holiday gifts for Covenant House New Jersey. Sited in Atlantic City and Newark, Covenant House provides residential and supportive services to help homeless youths become happy, healthy and independent young adults.
Pictured above, from left, are Brian Nelson, site director of the Atlantic City Covenant House; Vanessa Demetrio, events and marketing coordinator for The One Group (parent company of One restaurant); and Larry Sieg, vice president of marketing for the ACCVA.
ATLANTIC CITY — The innovative electronic dance music (EDM) icon Kaskade will make his HQ Nightclub debut for a special pre-New Year’s Eve set at Revel.
Kaskade is set to bring his signature sound to Revel on Sunday, Dec. 30. This special event will feature Kaskade’s acclaimed live show while captivated club-goers ring in the final moments of 2012.
Named America’s No. 1 DJ by DJ Times and Pioneer DJ, Kaskade has released seven studio albums, including his latest, Fire & Ice, which scored nine Top 10 hits on Billboard’s Hot Dance Airplay Chart.
He has also created chart-topping remixes for megastars such as Lady Gaga and Beyoncé and performed between 150 and 200 headlining shows a year for the last 10 years. Kaskade is credited with shaping the current EDM scene and capturing the imagination of a new generation of music lovers across North America.
Tickets go on sale Monday, Nov. 26, at 10am, and are available via Revel’s Web site. Doors for the event will open at 10pm. Guests must be 21 years of age or older.
Click here to see all upcoming casino shows in Atlantic City. — Christina Migioia
ATLANTIC CITY, N.J. — Revel is turning up the heat this holiday season by giving travelers plenty of reasons to plan a getaway.
Revel is bringing some exclusive offers for guests, limited-time-only rates and exciting programming. ‘Tis the season to visit Revel — recently named one of the “Best Hotels in the Northeast” by Amtrak’s Arrive magazine, and one of the “Top 10 Best New Hotels in the U.S.” by Gayot.com.
Need a respite from hectic workdays or holiday shopping? Now through Dec. 25, travelers can take advantage of “Winter Escape Rates” starting at $129. For those who need additional R&R, Revel’s “Transformation for Two” package provides a chance to revive and renew. Now through March 31, 2013, those who book the Transformation for Two, starting at $579, receive an ocean room, 60-minute facial and massage for two, and more.
On Cyber Monday (Nov. 26), Revel is offering additional savings through “Friends with Benefits” rates. Revel Facebook fans will get an exclusive discount on regular rates from midnight bookings through March 31.
Revel’s spa, boutiques, nightlife and restaurants are spreading holiday cheer with the following offers in November and December:
Thanksgiving dinner at the Alcove — enjoy a $36 prix-fixe Thanksgiving-themed menu on Thursday, Nov. 22, from noon-6pm while a live string trio plays smooth jazz.
Lugo, Azure & American Cut — Thanksgiving dinner will be even more special when celebrated at one of the LDV Hospitality’s fantastic dining experiences at Revel. Iron Chef Marc Forgione’s American Cut will feature traditional turkey or venison loin while Chef Alain Allegretti’s Azure will feature a choice of turkey, salmon or beef tenderloin.
ATLANTIC CITY — Surfing America, the national governing body for surfing in the United States, will be hosting its inaugural Surfing America Prime East event of the year at Revel Beach from Friday through Sunday, Sept. 28-30. Surfing America Prime is the highest level of junior surfing in the nation.
Competitors from all over the East Coast will come to Revel Beach to test their skills against the best in the East to qualify for the USA Championships, to be held at Lower Trestles, San Onofre State Beach in California, in June 2013, and possibly earn a spot on the PacSun USA Surf Team.
Surfing America Prime events feature professional judging by Association of Surfing Professionals (ASP) and International Surfing Association (ISA) certified judges, computer scoring, professional announcing and four-person 20-minute heats. Competitors qualify for the Prime series on the East Coast by excelling in either National Scholastic Surfing Association (NSSA) or Atlantic Surfing Federation (ASF) competitions the previous season.
The competition will run from approximately 8am-4pm Saturday and Sunday depending on surf and tides. The event is open to the public to watch free of charge. In addition to the surf competition, PacSun USA Junior Surf Team coach Ryan Simmons will be running a free coaching clinic for competitors on Friday afternoon from 3-6pm, and ASP judge Gordon Lawson will hold a short judging clinic on Saturday starting 7:30am. All events will take place on Revel Beach.
“We are super stoked to have Revel host our event in Atlantic City,” says Surfing America executive
Cruse
director Greg Cruse (pictured right). “The resort is amazing and, combined with the wide sandy Revel Beach, we couldn’t ask for a better venue for our event.”
During the event on Saturday, AC Surf Schools will be hosting free surf lessons for Boys and Girls Club of Atlantic City members. PacSun USA Surf Team members and Surfing America Prime surfers will be lending a hand as guest instructors.
Revel has announced its headliner for Labor Day weekend. The Eagles will headline at Revel’s Ovation Hall on Saturday and Sunday, September 1 and 2, 8pm. Tickets go on sale on Ticketmaster on Friday, July 20 at 10am at all Ticketmaster locations, online at www.ticketmaster.com or by calling 1-800-745-3000. A special ticket presale for American Express® cardmembers will begin this Monday, July 16 at 10am.
The Eagles — Glenn Frey, Don Henley, Joe Walsh and Timothy B. Schmit — will perform classics from the band’s career as well as hits from band member’s solo catalogs. The Eagles have sold more than 120 million albums worldwide, earning five No. 1 U.S. singles and six Grammy Awards. Their Greatest Hits 1971-1975 is the best-selling album of all time, exceeding sales of 29 million units. The band’s Hotel California and their Greatest Hits Volume 2 have sold more than 16 and 11 million albums respectively. The Eagles were inducted into the Rock & Roll Hall of Fame in 1998.
Thai for Two, a unique blend of yoga and massage, at Bask spa.
ATLANTIC CITY — Revel’s customers can now add relaxation to their list of things to do when visiting Atlantic City. With Revel’s transition into A.C’s casino industry as a resort, the opening of their new spa, Bask, will complement their vision perfectly. The facility will be 32,000 square feet and will offer guests the opportunity to eliminate stress and welcome mind-body wholeness.
Bask’s Shake your Chakra event will welcome visitors and natives of Atlantic City by offering a surplus of tranquil events, activities and experiences.
Bask’s opening weekend will launch Friday, June 3, with a Rock your Asana yoga class at 7pm. This class will include admission to Ivan Kane’s Royal Jelly Nightclub.
On Saturday the Shake Your Chakra event will host a Blue Print Juice Breakfast in the Sky Garden at 8:30am, Surf Set fitness class on the RipSurferX at 11am, noon and 1pm along with other activities throughout the day.
Sunday will begin with guided meditation with Robert MacDonald at 8am, core fusion boot camp at 9am, and Thai for Two at 11am. Additional activities are scheduled through 4pm. Bask’s spa experiences will offer guests an opportunity unwind following an entertainment-filled weekend at the Jersey shore.
Activities at the Shake Your Chakra weekend range between $35-$60 each. To book a visit to Bask go here. — Shana Vanegas
Rants and raves about burning topics that have caught my attention midweek, be it greedy corporate shenanigans, frustration or joy in regards to the Philly sports teams, a movie, show or DVD that has fired up my imagination, an intriguing personality, or what’s happening in the region. — Lori Hoffman, Associate Editor, Atlantic City Weekly.
It is shaping up to be a fantastic summer in Atlantic City with the opening of Revel leading the way. One of the best aspects of the Revel hype is the expansion of top entertainers coming to the city this summer. Revel surely has more surprises up its sleeve but so far they have announced Maroon 5 as the band opening Ovation Hall on May 18, followed by the Black Keys on May 19 and Beyonce Memorial Day Weekend May 25-27.
Phish: June 15-17, Bader Field.
The city government has approved Bader Field to host four music festival shows this year as a follow up to the successful Dave Matthews Band Caravan last summer. So far we know that Phish will perform June 15-17, and that the Metallica Orion Music + More Festival takes place June 23-24 with Arctic Monkeys, Avenged Sevenfold, Modest Mouse, Eric Church, Hot Snakes and the Jim Breuer Heavy Metal Comedy Tour among many other entertainers.
Rumors have been swirling that either the Sept. 22-23 dates or Sept. 29-30 dates at Bader Field are being reserved for a country music festival topped by Kenny Chesney, but so far that is just a rumor.
Gov. Chris Christie was in Atlantic City yesterday (March 27) at Revel to once again reiterate that a strong Atlantic City is important to the state. During his speech he also put out a plea to New Jersey native son Bruce Springsteen to consider appearing at Revel for Labor Day weekend. Christie, who has seen Springsteen in concert 126 times, feels that Springsteen should appreciate the working men and women who now have jobs thanks to the opening of Revel.
Christie, joined by Revel CEO Kevin DeSanctis and hundreds of casino workers employed at the new project, toured the now-completed $2.4 billion Revel Atlantic City that has created 5,500 permanent jobs, part of over 10,000 temporary and permanent jobs associated with its construction and operation. The newest casino and resort to join the Atlantic City skyline, Revel will have an eight-week preview opening beginning on April 2, ahead of its official May 25 premier kick-off.
“The completion of Revel and its opening is a turning point for Atlantic City and a clear sign that people once again have faith in the City’s ability to come back and be successful,” said Governor Christie. “Atlantic City is the engine of the local and regional economies and critical to the economic success of the state as a whole. Through job creation, increased tourism visits and development projects, our continuing efforts to revitalize the tourism and gaming economies in Atlantic City are getting positive results.”
Go here for more video of the tour and here for an inside look at Revel.
![IMG_5252[1]](http://blogs.atlanticcityweekly.com/ac-central/files/2012/11/IMG_52521.jpg "IMG_5252[1]")
and four-person 20-minute heats. Competitors qualify for the Prime series on the East Coast by excelling in either National Scholastic Surfing Association (NSSA) or Atlantic Surfing Federation (ASF) competitions the previous season.
Revel has announced its headliner for Labor Day weekend. The Eagles will headline at Revel’s Ovation Hall on Saturday and Sunday, September 1 and 2, 8pm. Tickets go on sale on Ticketmaster on Friday, July 20 at 10am at all Ticketmaster locations, online at www.ticketmaster.com or by calling 1-800-745-3000. A special ticket presale for American Express® cardmembers will begin this Monday, July 16 at 10am.
Rants and raves about burning topics that have caught my attention midweek, be it greedy corporate shenanigans, frustration or joy in regards to the Philly sports teams, a movie, show or DVD that has fired up my imagination, an intriguing personality, or what’s happening in the region. — Lori Hoffman, Associate Editor, Atlantic City Weekly.
