A US$2.4 billion gamble on Atlantic City’s last mega-resort

 Atlantic City has been on a losing streak but backers of the US$2.4 billion resort named Revel are betting on an unusual project that will embrace the area’s beaches and ocean and play down its appeal as a gambling destination.
 

Meeting planners take notice: they will also be invited.
 

“Even the drive up to the valet entrance promises to be memorable. The roadway will run beneath the casino, then rise several levels to deposit guests at a porte cochere that features ocean-side views,” says The Press of Atlantic City.
 

“The vision was to be a little bit different than what Atlantic City has been in the past,” said Robert Andersen, Revel’s executive vice president of project development. “The vision was to embrace the ocean and Boardwalk.”
 

It is expected to be the last megaresort built in the slumping Atlantic City market for years to come, says the Press. Revel itself was near death until the developers secured $1.15 billion in new financing earlier this year to restart a project that had been stalled by money shortages.
 

Revel, a play on the word meaning fun, is due to open in mid-2012. The company is reportedly reluctant to even use the term “casino” as a description.
 

“We are not promoting this as a casino,” Revel spokeswoman Lisa Johnson said. “It’s a lifestyle resort with a casino.”
 

The attraction is a clear attempt to emulate Las Vegas, where 60 percent of the total revenues on The Strip come from activities other than gambling such as nightclubs, restaurants and elaborate theatre productions.
 

The attraction is being promoted as a resort with pools, a spa, a dozen restaurants and retail shops. There will also be nightclubs and attractions perhaps found nowhere else in Atlantic City.
 

Perhaps its most striking feature will be a two-acre, landscaped outdoor deck overlooking the ocean. The so-called roofscape will include a man-made “pine grove” of more than 30,000 live trees and plants. Cabanas and fire pits will allow guests to party while soaking up the outdoor decor.
 

Revel also is building a posh spa on the same level as the lobby, although the two areas will be separated by a wall. An indoor-outdoor pool complete with a waterfall will connect with the spa.

There will also be a man-made version of the coastline that will be part beach and part party zone.
 

The 47-story hotel tower will top out at 710 feet, dwarfing anything on the Atlantic City skyline. The hotel will have 1,090 rooms.
 

Despite its aversion to the word “casino,” Revel’s anchor will be its 150,000-square-foot casino floor.
 

That size will put Revel in the top tier of Atlantic City’s casino hotels.
 

Only Harrah’s Resort and Bally’s Atlantic City will have more gaming space than Revel. Trump Taj Mahal Casino Resort’s gaming space is comparable to Revel’s, New Jersey Casino Control Commission statistics show.
 

Revel’s heavy emphasis on entertainment is illustrated by a 5,800-seat arena. A 1,000-seat theater also is planned for smaller shows. The large arena’s retractable seating will allow Revel to create meeting space and a 40,000-square-foot ballroom.
 

“The casino hotel hopes its upscale surroundings and array of nongaming attractions will lure conventions as well as the well-heeled customers who currently favor Borgata Hotel Casino & Spa, the city’s most luxurious gaming hall,” says the Press.
 

There’s debate whether the new resort will draw newcomers to Atlantic City or simply redistribute existing tourists who will almost certainly opt for the newcomer when it first opens because of its novelty.
 

By David Wilkening