Comment on Revel starts shutdown Monday after just 2 years

Revel starts shutdown Monday after just 2 years

Analysts and competitors say it was hampered by bad business decisions and a fundamental misunderstanding of the Atlantic City casino customer. "If there had been a range of new attractions and potential customers with enough discretionary income, I think that Atlantic City could have absorbed the new capacity," said David Schwartz, director of the Center for Gaming Research at the University of Nevada Las Vegas. Customers found Revel's design off-putting as well, said Joe Lupo, senior vice president of the Borgata, whose upscale market Revel appeared to target. Entering from the Boardwalk, they had to take a vertiginous escalator up four flights to reach the casino floor. Some potential buyers in bankruptcy court reportedly were scared off by the ongoing expense of the heating, cooling and electrical plant, and they sought unsuccessfully to exclude it from their purchase offers.

 

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