They couldn’t get the $300M they were asking for, so Morgan Stanley are getting out of Atlantic City. The investment bigwigs had a $1.2B stake in the casino project being developed by Revel Entertainment Group, and expects to take a ‘substantial loss’ on the ill-fated venture. Seriously, it’s like Atlantic City is one of those horror movie houses where the walls say things to the residents, specifically, GET OUT. Read more.
Atlantic City’s casino tables bleed red ink in May
June 14, 2018