The Traderszone Network

Published in TZ Latest News 3 September, 2014 by The TZ Newswire Staff

Revel closing shows gambling Isn’t sure bet for renewal

The Revel Casino Hotel was envisioned as a playground for Wall Streeters who hated flying to Las Vegas. Barring a sale, the new owners may be Wells Fargo & Co. and JPMorgan Chase & Co., which provided $125 million in court-approved funding. Previous backers also included Capital Group Cos., the third-largest manager of U.S. The Revel saga shows what can go wrong when bankers stray from what they know, according to Charles Geisst, a professor of finance at Manhattan College in New York and author of the book “Wall Street: A History.”