Revel files bankruptcy petition

Revel Casino in Atlantic City filed bankruptcy papers today, according to a source familiar with the filing.

Revel, the source said, is woefully deficient on revenue and cannot pay its quarterly property taxes to the City of Atlantic City.

"He’s obviously working very, very hard at it. I mean he’s traveling all over the country as chairman of the [Republican Governors Association] and I think at this point he has as good a chance or better than anybody else. His name is household word all across the country, and I think he would make a great president."
—former U.S. Rep. Jim Saxton (R-3), on Gov. Chris Christie