JUDGE APPROVES TAX DEAL BETWEEN REVEL, ATLANTIC CITY

A federal judge has approved a tax deal between the failed Revel Casino and Atlantic City.  The deal results in a $26 million settlement where Revel’s tax bill will be reduced by $7 million; in return, Revel will drop its lawsuit against the city that attempted to reduce its tax burden.  The Revel Casino closed in September and had owed the city $33 million.