[toc]The Revel Hotel Casino in Atlantic City is set to reopen as soon as next week. Maybe. Kind of.
After opening in 2011, the property has sat idle since it closed in 2014, with its short run in operation creating losses in the billions.
Revel, back in business
Glenn Straub, who took over the shuttered AC property more than a year ago, has said the resort will be at least partially open by Wednesday, June 15.
How much will be open appears to be an open question, however. According to the Associated Press, 900 hotel rooms will be ready for guests.
Straub told the Press of Atlantic City that the outdoor dayclub will be open, along with some other amenities:
Visitors will also be able to partake in scuba, windsurfing and cooking lessons, spa treatments, a zipline and ropes course called Skytrail, and a “13-floor endurance bicycling course,” Straub, whose firm owns the building, said.
It’s not clear if any restaurants will be open at relaunch, but Straub indicated several should be open next month.
Gambling options at Revel?
For right now, it appears the only way to gamble will be via slot machines.
Straub told the AP that he hoped to have a full casino, including table games, up and running by August.
When it was open the first time around, Revel featured 130,000 square feet of gaming space and a poker room.
Can Revel make it this time?
That’s very much an open question.
The reopening process since Straub bought the distressed property for just $82 million has been fraught with stops and starts. (The original pricetag of construction was $2.4 billion.)
The Revel is still a beautiful property, and with smart management could turn a profit eventually.
However, the Revel’s reopening comes amid troubles for Atlantic City, which is trying to avoid bankruptcy and a state takeover after Gov. Chris Christie signed a bailout plan.
Also adding confusion to the future of AC is a November referendum that would allow casinos in North Jersey. If that measure is approved, there are varying opinions on the impact it will have on AC.
The bottom line: It will be a while until we see whether Revel, version 2.0, will be a success or another failure.
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