Atlantic City's newest casino is turning to layoffs to help it deal with financial problems as it works its way through bankruptcy court, the Associated Press reported yesterday. Revel Casino laid off 83 workers yesterday, representing about 2.5 percent of the casino's workforce. The $2.4 billion resort opened a year ago, but has languished near the bottom of Atlantic City's 12 casinos in terms of the amount of money won from gamblers. Revel filed for chapter 11 protection last month in a deal worked out in advance with its lenders. It hopes to emerge from bankruptcy court by early summer with a deal that will wipe out 82 percent of its $1.5 billion debt by converting most of it into equity for lenders.
