Revel

Revel, the Atlantic City Casino Morgan Stanley poured $1.2 billion into and then booked a $1 billion loss on when the bank washed its hands of the place, which still haunts some senior executives’ dreams and is the word James Gorman whispers to employees with a knowing glance when it looks like they’re about to get in over their heads on something, is shutting its doors. Read more »

Given everything else that’s gone wrong with Atlantic City’s flashy, unpopular new gambling paradise—and everything else that’s gone wrong in New Jersey recently—why shouldn’t a hedge fund that invests some of the Garden State’s pension cash own a casino? Read more »