Tags: revel | casino | closing | atlantic city

Revel Casino Closing: Atlantic City's Once-Promising High-Rise Shuts Down

Image: Revel Casino Closing: Atlantic City's Once-Promising High-Rise Shuts Down
Joe Luccathetti, left and Robert Fitting, employees of the Revel Casino Hotel remove signage from its wall along the boardwalk in Atlantic City, New Jersey September 1, 2014. (Tom Mihalek/Reuters Landov)  

By    |   Tuesday, 02 Sep 2014 08:39 AM

Revel Casino closed its doors early Tuesday, making it the second Atlantic City casino to shut down over Labor Day weekend in what could spell impending doom for the once legendary New Jersey gambling market.

The $2.4 billion complex, which opened in April 2012 as a beacon of the city's revival, began its shutdown this week, trailing the Showboat's Sunday closure and the Atlantic Club's January shuttering, NJ.com reported.

To add to Atlantic City's woes, Trump Plaza will board up its doors Sept. 16, according to The Associated Press.

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"It's a . . . shame," Ruthie Fenimore of Warren, New Jersey, one of the last gamblers to play at Revel, told the AP Tuesday. "I really love this place. This place would be perfect if it was in Las Vegas. It would be right up there with Wynn."

"All the restaurants were awesome and HQ is the best nightclub I've ever been to in New Jersey," she continued. "I remember the first time I came here, I was lying on the bed opening and closing the curtains with a remote control. It blew my mind. The bathroom was bigger than my home."

Some Revel Casino employees posted pictures on Twitter about the closure.



Philadelphia magazine noted that Revel was born into troubled times, breaking ground in 2008 during Atlantic City's construction boom in hopes of marketing itself as an "East Las Vegas." But the city struggled during the disastrous credit crunch of the great recession and had to lay off 400 workers while Revel was being built.

The State of New Jersey stepped in and allowed Revel to get across the construction finish line in 2010 with $261 million in tax-increment financing, the magazine wrote.

"When Revel is the success I know it will be, the taxpayers of the state of New Jersey will participate in the success of it," New Jersey Gov. Chris Christie said at the time when the state announced the Revel rescue package.

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Revel Casino closed its doors early Tuesday, making it the second Atlantic City casino to shut down over Labor Day weekend in what could spell impending doom for the once legendary New Jersey gambling market.
revel, casino, closing, atlantic city
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2014-39-02
Tuesday, 02 Sep 2014 08:39 AM
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