A.C.’s embattled Revel casino is giving off serious smoke signals that it’s preparing to file for bankruptcy. The Wall Street Journal (paywalled, h/t Grub Street) reports that Revel has hired restructuring lawyers and bankers whose presence can only means one thing. Revel is currently $1.2 billion in debt and is likely trying to get ahead of the “prepackaged bankruptcy” it would try to convince its (angry) creditors to sign on to. [Grub Street]