中国建筑公司签约在美国施工完成赌场建设

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Chinese builder signed to complete A.C. casino

By Suzette Parmley

INQUIRER STAFF WRITER

Looks like the developer behind the Revel Casino in Atlantic City is turning to a Chinese construction firm to help complete the project by summer 2011.

China State Construction Engineering Corp. has signed a $1.7 billion agreement with property firm Tishman Construction Corp. and casino builder Revel Entertainment Group L.L.C. of Atlantic City, to finish the $2.5 billion megacasino planned next to Showboat on the Boardwalk.

A filing was made today by China State Construction, China's biggest property conglomerate, to the Shanghai Stock Exchange, confirming the deal.

Revel president and chief executive Kevin DeSanctis said earlier this week in an interview that his team has plans to reenter the credit markets next month to seek the final $1 billion in loans that he needed to complete the delayed project.

"This is not about financing . . . it's about a construction management agreement," DeSanctis said today about the deal with China State Construction.

He said he will still be seeking the $1 billion in financing.

The 53-story Revel structure was just topped off two weeks ago, but all interior work on the casino came to a halt in late January when credit dried up.

DeSanctis said the casino would open 16 months from the point crews begin work on the interiors.

Today's filing states that the Revel project is likely to be completed in July 2011.