Kevin DeSanctis to be hired to run new casino

0 Comments | Philadelphia Inquirer, The, October, 2006 | by Suzette Parmley

The gambling arm of Morgan Stanley is expected to announce the hiring of Kevin DeSanctis, the president and chief operating officer of Penn National Gaming Inc., to operate its proposed $1-billion-plus casino project in Atlantic City. DeSanctis, 53, considered a key strategist behind Penn National's explosive growth, announced in late July that he would leave the firm by year's end to form his own gambling company, called Revel Entertainment.

Three people knowledgeable about the negotiations say Revel beat out other contenders to operate the Morgan Stanley casino, including Hard Rock Casinos. "It's a done deal," said a person familiar with the discussions. "It will be announced within days." A Penn National executive said yesterday that DeSanctis was in the process of...

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