Revel Atlantic City Finishes In Eighth For Gaming Revenue…Again [AUDIO]
Revel, Atlantic City's newest casino, finished a dismal 8th, again in June, when it comes to gambling revenue. That's 8th for the third month in a row.
Revel took in almost 15-million dollars in revenue in June, an improvement of a million dollars since May. The two-billion-dollar-plus casino is being counted on to help the struggling Atlantic City gambling market, but gaming expert Israel Posner of the Richard Stockton College of New Jersey says, "number eight...nobody wants to be number eight."
But no one in A-C or at Revel is worried right now.
CEO Kevin DeSanctis says the resort is doing well in the area of non-gambling revenue, and he's confident Revel's plan is working. Roger Gros of, "Global Gaming Business Magazine gives Revel a year. Gros says he is not panicking yet.
He says, "I think that they have some time to 'right the ship.'"
Gros says the overall gaming revenue decline of less than one percent for all 12 casinos in June is actually encouraging.
Posner says Revel is still very new, and while it will have to realize its fair share of casino revenue moving forward, they will also have to make their share of business from restaurants, room revenue and entertainment.