The former owners of the Revel casino are acknowledging a long list of mistakes that helped kill the $2.4 billion resort, including an onerous energy contract that strangled it from the get-go, the Associated Press reported yesterday. A proposed disclosure statement for its bankruptcy case filed on Monday includes a history of Revel, which shut down last September without having turned a profit. The filing puts much of the responsibility on Revel's initial management, led by former CEO Kevin DeSanctis. It lists problems from construction cost overruns, taking on too much debt, the failure to attract day-tripping gamblers, pricey food and beverages and startup glitches with marketing and technology. But one of the costliest missteps — and one that continues to plague Revel now, even as a shuttered building — was its contract with its utility provider.
