Can Revel Bounce Back with New Plan? [AUDIO]
Attracting gamblers had always been part of the business plan at Atlantic City's newest casino, but now that focus will be front and center. Revel has officially changed its name to Revel Casino-Hotel, and the new theme is "Gamblers Wanted," as it tries to dig itself out of a dark and costly hole.
The multibillion dollar resort has emerged from bankruptcy with new leadership and a revised game plan. In its first quest for success, Revel promoted its beachfront locale and the upscale amenities it could offer to groups and leisure travelers. With this next attempt, the smoking ban has been lifted, and visitors can find a newly-opened high-limit slots area and a players' club lounge.
"This is a seismic change in how we do business at Revel," said Jeff Hartmann, the casino's Chief Executive Officer.
Hartmann noted 2012 was an unsuccessful year for the casino, and he's hoping gamblers will give Revel a second chance. He described the new effort as 'Revel 2.0.'
Revel will face the tough challenge of grabbing gamblers from other casinos, according to Dr. Israel Posner with the Lloyd D. Levinson Institute of Gaming, Hospitality & Tourism at the Richard Stockton College of New Jersey.
"All the major casinos have very, very strong loyalty programs," Posner said. "It's very difficult to pull someone away from where they've already earned benefits for overnight stays, restaurants and entertainment."
Revel's ammunition is a bold promotion for slots players. For the entire month of July, the casino will refund all slots losses to any Revel cardholder.
"We're also matching all offers from all Atlantic City casinos," said Randy Fine of The Fine Point Group, which manages Revel's marketing.
Despite the new leadership and the promotions that are hard to turn away, Posner predicts Revel will not see an operating profit in 2013. The casino's task of making a name for itself won't be achieved overnight, and it could take years before a true Revel identity is understood by visitors and employees.