Revel Entertainment announced today it’s finally got the funding it needs to finish its stalled casino project on Atlantic City’s Boardwalk. The four-year-old project has been stagnant since 2009 when the recession hit.
The Associated Press reports Revel has secured the last billion dollars it needs to finish the project by 2012. The city’s got a lot riding on this, as Revel is expected to be Atlantic City’s last mega resort for awhile.
Earlier this month, N.J. Gov. Chris Christie promised the casino a $261 million investment in exchange for 20 percent of its profits.