April 2, 2012- September 2, 2014. Just short of two and a half years, Atlantic City’s Revel has closed its doors. (Officially at 5 p.m. today the casino will close.) This after two bankruptcies and, a short search for a buyer. So why do you think the most beautiful casino on the boardwalk went under? Competition for your gambling/resort dollar. Far too much competition within the city and outside. A simple concept and one that should have been recognized prior to construction.
On a recent visit to a AC casino specifically the now closed Showboat (8-31-14) I waited in line to check in for one hour and 20 minutes. Why such a line? Discounts my friends, free rooms all you need to pay is the tax $9. And this was an unprofitable casino? This type of promotion usually offered Sunday-Thursday brings people in to what otherwise would be an empty hotel/casino. To clearly understand I am no high roller and by the looks of my fellow line-mates they were not either (all in beach wear, some with kiddies in tow). Novice gamblers who may spend $100 dollars or less. This is not what the casino patron Revel was attempting to lure. They didn’t and they didn’t lure enough of the “other” level’s of gamblers either.
When you plan a business of this magnitude one would think you would census the area. After that census, build around the largest target audience. Affluent Casino Patron the Revel apparently thought was that target audience. Their failure would quantify that this target audience is not enough to keep open a $2.5 billion dollar casino. So should have they shed that image halfway in to their existence or prior to the second bankruptcy? Would more have come if they did? I doubt it would have mattered much.
The answer to “why did the Revel close” should be obvious. There is not enough casino dollars to go around. Affluent, novice, or desperately poor patrons dreaming of the big hit. Closed the Showboat with the hour and a half wait to check-in and the beautiful empty Revel, Atlantic City’s worst performing casino. What will happen next at this location? Well whoever buy’s it, that is if somebody buys it ; they better do their homework. Atlantic City’s casino industry is growing smaller by the day. next up for closure, Trump Plaza.