Revel Casino files for bankruptcy

Atlantic City’s Revel Casino announced that it was filing for bankruptcy at the beginning of the week.

At less than a year old, the casino is to file for a Chapter 11 bankruptcy soon.

Revel Casino cost has cost over $1 billion to build and run in its short lifespan and is t he most expensive casino ever to be built in American gambling hotspot Atlantic City.

Revel Casino was also said to be an instrumental part of New Jersey’s massive campaign to up the state’s attractiveness as a top gambling destination in its country. The state’s governor, Chris Christie is also on the brink legalizing online gambling.