Atlantic City casino Revel files for bankruptcy

March 25 Mon Mar 25, 2013 10:35pm EDT

March 25 (Reuters) - Revel, a lavish Atlantic City casino that opened less than one year ago, filed for bankruptcy protection late on Monday, a court filing showed.

The Chapter 11 filing, which was expected, culminates a rapid decline for a complex that cost $2.4 billion to build and had been expected to bringing Las Vegas-style glitz to a city where gambling revenue had fallen for several years.

The case is Revel AC Inc, Case No. 13-16253, U.S. Bankruptcy Court, District of New Jersey.