In April 2012, the 47-story Revel finally opened with 1,400 hotel rooms and an inaugural Beyonce concert. If we start discounting in the same manner as some have decided to go, we will not be successful,” he said. “We cannot become a value-oriented property, and what I mean by that is a price-conscious property," DeSanctis said. Just before the hotel opened, DeSanctis said an a videotaped interview that room rates would be just under $300 for midweek rates-this in a city where slashed rates can go as low as $19 per night. On the other hand, a gaming analyst for Deutsche Bank estimated Revel could generate $175 million annually in gross operating profits. The report also predicted that the seven casinos in eastern Pennsylvania, along with those in New York, Delaware, and Maryland, would see their revenue rise 27%. reportedly said that one of Atlantic City's biggest hurdles was that it had no "buzz" and predicted a 13% decline in the region's revenues. Smoking would not be allowed anywhere in the resort.Īround this time, an analysis by Linwood, N.J.-based Spectrum Gaming Group L.L.C. Revel would also to include a two-acre landscaped outdoor deck overlooking the ocean, complete with fire pits, cabanas, and a “pine grove” of 30,000 live trees and plants. "It's a lifestyle resort with a casino." That lifestyle included a three-story, glass-encased nightclub overlooking the ocean, as well as multiple pools, a spa, and 12 restaurants.
"We are not promoting this as a casino," Revel spokeswoman Lisa Johnson reportedly said.
In April 2011, Revel gave a press tour of its big project. It led to all sorts of bad conclusions about this place." (However, the tax credit was tied to future revenues-which in the end never materialized.) "When the project stopped, it was a real downer. "It's extremely important psychologically for the city," Christie said at the time. Chris Christie’s pledge to invest in Atlantic City’s tourism industry. The state of New Jersey also promised to help via a $261 million tax credit to the Revel, thanks to Gov. He managed to raise $1.15 billion in three loans from 15 to 20 hedge funds. With New Jersey Governor Chris Christie's support, in January 2011 he went to Wall Street in search of his needed $1.4 billion. Still, DeSanctis made the rounds to bring his stalled project back to life.
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