Rollin’ The Dice On Revel
The new Revel Casino in Atlantic City has been all the rage this week, as it gets set to open its doors to the public on Monday. Its success or failure will have a major impact on somebody who never has trouble making headlines in New Jersey.
There was a time not too long ago when Revel was written off as a failed Atlantic City project because of the struggling economy. That is when Governor Christie stepped in, doling $261 million dollars in tax rebates and breaks to help resuscitate the fledgling casino.
Once you add in the resources that Christie has pledged to help revitalize Atlantic City for things such as security and clean-up around the resort, you begin to realize how much he has rolled the dice on the AC's success.
The sprawling $2 billion dollar Revel facility is being counted on to jump-start Atlantic City, which has seen constant declines in revenues over the past few years because of a combination of out-of-state competition (especially Pennsylvania) and a stagnant economy.
Revel has promised to be like nothing this region has seen; a resort that would fit in Las Vegas.
Governor Christie toured the facility on Tuesday, ahead of this week's dress rehearsal and next week's open.
"The completion of Revel and its opening is a turning point for Atlantic City and a clear sign that people once again have faith in the City’s ability to come back and be successful," Christie said.
This was also the week when the budget process really got underway, with the OLS immediately saying the budget projections were lofty, mainly due to Atlantic City expectations.
Governor Christie stands by his projections, however.
Still, the OLS thinks his Atlantic City revenues hopes may be far-fetched, with Democratic lawmakers jumping into the fray.
The stakes are high, with the consequence of budget short-falls hitting your pockets.
Ironically, Christie will be out of town next week as the biggest gamble of his administration gets set to officially open.
The nay saying has done nothing to temper the Governor's excitement for Revel. At his Tuesday tour of the facility, he even made a plea to his favorite performer and favorite Jersey son, Bruce Springteen, to come and play at Revel on Labor Day. Christie is a self-described Springsteen fanatic, having seen him play well over 100 times. He said he hoped to make Bruce a part of the "Jersey Comeback."
Christie continued the blitz to convince "The Boss" to come to Revel during Springsteen's Thursday concert in Philly, which the Governor attended. He tweeted all during the set-list, commenting on songs "The Boss" was playing, and using the hashtag #meetmeinAC.
Springsteen has not yet responded to the Governor's request.
Courtesy Governor's Office