Sweeney Says Revel Needs New Management
By Phil Gregory, WBGO News
January 24, 2013
New Jersey Senate President Steve Sweeney says the Revel casino resort in Atlantic City needs new management to be successful.
Revel has struggled financially since it opened in April.
Sweeney says the food prices and lack of generous casino perks have left many visitors with a bad first impression.
“I would be so happy if the current management could correct this ship. I think that they’re in a deep hole, and I just don’t see it. What I think is going to happen is eventually they investors are going to say the investors are not giving you any more money because this isn’t working and eventually someone is going to come in and buy it”
Sweeney says Atlantic City needs Revel to succeed, and he believes people may give it another try if new management makes changes.
“If you look just at the facility there’s no reason why it shouldn’t be successful. It’s gorgeous, a great location. When you listen to the owner and he says no one understands my plan for the business maybe no one understands it because it doesn’t make sense.”
Revel’s management has tried to make it a full-scale resort destination rather than focusing on the casino. It plans to use part of the $150 million in additional financial it recently received from creditors to expand its food options.
Roger Gros is the publisher or Global Gaming Business Magazine. He says while it may take a while longer to increase its revenue Revel’s management is doing a good job.
“Their idea of attracting a new customer to Atlantic City is really the only way for the city to go. If they’re going to survive on the existing customers, they’re just going to cannibalize other casinos, and it won’t be good for the city in general.”