New Jersey Gov. Chris Christie, one of the major boosters for the construction of the $2.4 billion Revel entertainment complex, says he is not concerned that the property has gotten off to a slow start.
Speaking during an appearance at Asbury Park, Christie said he always expected it would take the property a year or so to make a major impression on the Atlantic City casinos. He noted the city’s newest property emphasizes non-gaming activities over gambling.
Revel’s slow start, losing $35 million during the past quarter, has caused management to seek an expanded credit line from its lenders. The previous credit line was for $30 million but management has received approval to increase that to $100 million.