Atlantic City Finally Receives Good News On Revel Casino Project

It is no secret that the Atlantic City casino industry has been in the dumps for the better part of the past two years. The economy has destroyed what was a once proud industry, and the city has been grasping for some good news for a while now.

On Wednesday, the city finally received that good news. Revel Entertainment is now prepared to finish the Revel Casino project that they began back in November of 2007. The completion of the project is expected to have a big effect on the city's casino gaming future.

"This is just huge for Atlantic City," said observer Perry Grumple, "this casino will be used to rejuvenate the other casinos in the city, and it may even lead to more casino projects from other developers in the future."

The plan, according to Kevin DeSanctis, President and Chief Executive Officer of Revel Entertainment Group, is to begin the remaining construction in January of next year. If that is accomplished, DeSanctis believes the casino could be up and running in the early to middle months of 2011.

"After three years of mostly negative stories about the Atlantic City casino industry, the completion of Revel could give the city a sorely needed positive vibe," said Spectrum Gaming Group's Joe Weinert, "Revel opening could change the perception of Atlantic City in a hurry."

Atlantic City casinos have seen their revenue decrease by double digits in several months in a row. There has even been speculation that the city's casino industry would never return to the glory days it experienced in the 1980's.

In addition to this news, Donald Trump is attempting to buy the company that bares his name, Trump Entertainment. The company owns three casinos in AC and Trump has said that he will help restore the city as a major gambling destination in the future.

Carl Icahn has also jumped back into the casino game in AC recently. He won the rights to the Tropicana Casino in bankruptcy court. Icahn is well-known in Atlantic City casino history for having bought the Sands Casino and making it a top of the line facility before selling the casino.

September 10, 2009
Posted By Terry Goodwin
Staff Editor, CasinoGamblingWeb.com
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