All 4 Uses

revel
in
The Masque of the Red Death
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But, in spite of these things, it was a gay and magnificent revel.†
And the revel went whirlingly on, until at length there commenced the sounding of midnight upon the clock.
*

revel = party
But now there were twelve strokes to be sounded by the bell of the clock; and thus it happened, perhaps, that more of thought crept, with more of time, into the meditations of the thoughtful among those who revelled.†

unconventional spelling: This is a British spelling. Americans do not repeat the "L" prior to adding the "ED".
And one by one dropped the revellers in the blood-bedewed halls of their revel, and died each in the despairing posture of his fall.†

Definitions:

(1) (revel)
to take delight in; or to party or celebrate -- especially in a noisy way
(2) (meaning too rare to warrant focus)
More rarely today (though common in classic literature), revel can be used as a noun that is a synonym for party -- as when Shakespeare wrote "I delight in masques and revels sometimes."