The Revel Casino has received a $1.5 billion financing for the completion of the project, The Wall Street Journal reports. JP Morgan Chase has received commitments for $850 million private placement and $300 million in mezzanine financing.
The project’s new owners are a group led by former casino executive, Kevin DeSanctis, hired by project head, Morgan Stanley. As part of the restructuring, the New York firm will cash out with $30 million. The financing deal is expected o be completed by February 11.
Click here for the story from The Wall Street Journal.