Union Wants New Jersey To Probe Struggling Finances Of Revel Casino
ATLANTIC CITY, N.J. (AP) — Atlantic City’s main casino union wants state gambling regulators to determine whether the city’s newest casino is financially stable.
The union cites Revel’s disappointing performance in its first four months of operation and claims the $2.4 billion casino owes $27 million in unpaid bills to contractors and vendors.
Financial stability is one of the most important criteria for being allowed to operate a casino in New Jersey.
Local 54 of the Unite-HERE service workers union has battled with the mostly non-union Revel since before it opened in April. Union president Bob McDevitt says Revel hasn’t added new business to the city, but has siphoned it from other struggling casinos.
He fears Revel could fail, and drag other casinos down with it.
No word from the state on the request.
(Copyright 2012 by The Associated Press. All Rights Reserved.)