>Morgan Stanley pulling out of Revel casino in NJ

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>Morgan Stanley said Thursday it is pulling out of the $2 billion Revel casino in Atlantic City and is prepared to take “a substantial loss” on the stalled project, into which it has already sunk $1.2 billion.

The company, which owns more than 90 percent of the ocean-themed casino-hotel project on the Boardwalk, did not list a reason for abandoning the project.

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