Revel wants credit; Philly rents climb - 6at4 Business Report
Philly rents are jumping again; Whole Foods is opening more stores; Boston Market is cutting salt.
Revel Casino Wants Credit Boost
Atlantic City's newest casino is looking some financial help to survive. The owners of Revel are asking its lenders for $70 million of additional credit to overcome what it calls a slow start, and a disappointing first few months. The beach-front casino resort has seen $35 million in operating losses since it opened in April. It has $30 million credit line to draw on, but wants to raise that to $100 million.
Philadelphia Rent Prices
If you're looking to rent a home, be prepared for sticker shock. Zillow says rents in Philadelphia during the month of July was about $1,500 and that's an 11.7% increase over last July. While rents are going up, home prices in Philadelphia declined 3.7% to an average of $185,000.
Whole Foods Tripling Stores
Whole Foods just opened a new store in Glen Mills but they plan open a lot more and triple its store count to 1,000. Officials with the chain want to boost sales by opening locations in smaller markets and in areas with few or no grocery stores. This move comes despite increased competition in the supermarket business as Americans eat out more.
Boston Market Cutting Salt Levels
Boston Market is taking salt shakers off the table at all 476 locations nationwide. USA Today says the chain is also unveiling plans to cut sodium levels in its rotisserie chicken, mac and cheese and mashed potatoes, by 20% over the next months, as it tries to keep up with competitors.
6at4, stock market, economy, casinos, business/finance
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