| Revel Atlantic City | |
|---|---|
| View of the Construction of the Revel Resort from the beach in October 2011 | |
| Address | 500 Boardwalk and New Jersey Avenue |
| Opening date | May 15, 2012 |
| Theme | Ocean |
| No. of rooms | 1,090 |
| Total gaming space | 150,000 sq.ft. |
| Casino type | Land-Based |
| Owner | Revel Entertainment Group |
| Architect | Arquitectonica |
| Website | www.revelresorts.com |
'Revel Atlantic City', commonly referred to as 'Revel', is an entertainment resort, hotel, casino and spa under construction in Atlantic City, New Jersey, United States on 20 acres (8.1 ha) beachfront of land adjacent to the Showboat Hotel & Casino.
In March 2009, construction was stopped because of difficulties in raising the financing necessary to complete the project.[1] Revel resumed construction in February, 2011 after new financing was secured.[1] Kevin DeSanctis disclosed that the $2.4 billion megaresort will open May 15, 2012 during closing remarks at the East Coast Gaming Congress, an annual conference that draws hundreds of industry officials to Atlantic City held May 24–25, 2011.[2] As of January 2012, the project is on schedule, and its opening date may be moved earlier than May 15, 2012. [3]
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Revel's hotel tower,[4] is the tallest structure in Atlantic City and the second tallest in the state of New Jersey at 47 stories (710 ft)216 m (709 ft).[5][6] The tower is also the second tallest casino tower in the United States. Revel will house 12 restaurants, 6 pools, 3 theaters, 2 night clubs, 44 retail shops and a 5,800 seat arena. Along with height records, the construction process is the largest one in Atlantic City since the construction of the Borgata. The project is being built by Tishman Construction Company of New Jersey. Revel has also selected design firms to aid in the conceptualization and implementation of its casino complex. Scéno Plus, a Montreal-based design firm, collaborates with other professionals to design core entertainment spaces as well as 150,000 feet of casino.[7] In the summer of 2008 the project was officially scaled back to include just one hotel tower with 1,900 rooms due to lack of financing. In late January 2011, Revel C.E.O. Kevin DeSanctis while pitching yet another funding plan on Wall Street, announced that the property would only complete 1,090 rooms in the opening phase, in addition other aspects of the project were to be scaled back to meet the available funding.
Revel will feature two nightclubs, one dayclub, six pools, twelve restaurants, and three live entertainment venues. The valet entryway will take drivers from the road up under the structure, three stories to the edge of the boardwalk, with views of the ocean, and then loop back around to the main entrance. The resort will also feature a 2-acre (8,100 m2) landscaped rooftop deck containing a few outdoor pools, cabanas, fire pits, and a "pine grove" with over 30,000 live trees and plants. The lobby will be located on the same level as the outdoor deck, six stories above the ocean, and a three story nightclub will overlook the lobby. All the main areas of the building will be connected by a five story glass-enclosed atrium in the center of the resort.
Adjacent to the lobby, but separated by a wall, will be large spa featuring an indoor/outdoor pool with a waterfall. Next to the resort will be a private beach area, named Revel Beach, located at the tip of Metropolitan Avenue. The twelve restaurants in Revel will be mostly located around the casino floor, the third largest in Atlantic City. A two story circular bar will be located at the center of the casino, and one of the nightclubs will be located next to the casino floor.
The complex will also feature a 5,800-seat arena and a 1,000-seat theater for smaller shows. The arena's seating will be retractable so the space can be used for conventions or meetings.[8]
A complete Smoke-Free policy is under consideration.[9]
On December 8, 2011 Revel announced celebrity Chef Jose Garces acclaimed chef and owner of twelve restaurants in Philadelphia, Chicago, Scottsdale and from "Iron Chef" fame would open three restaurtants: Amada, Village Whiskey and Distrito Cantina. [10]
The 47-story hotel tower will be lit up with a large amount of lighting, and the top "split" in the tower will contain spotlights that will shine upwards towards the sky similar to the light at the Luxor casino resort in Las Vegas.[8]
Construction of the resort will cost $2.4 billion.[11][12]
Global Financial company Morgan Stanley, the owner of 90% of Revel Entertainment Group, decided in April 2010 to discontinue construction and put its stake in Revel up for sale and walk away from its $932 million investment.[13][14]
On February 1, 2011, as part of his plan to revitalize Atlantic City, Governor Chris Christie announced that the State of New Jersey would invest 260 million dollars in the stalled project in exchange for 20% of the revenues.[15] In late January 2011, Revel C.E.O Mr. Kevin De Sanctis pitched a three tiered bond deal to Wall Street Bankers. Standard and Poors issued a preliminary rating on or about January 27, 2011 on this financing proposal. On February 1, 2011, the Governor of New Jersey with much planned hoopla came to Atlantic City and signed recently passed legislation that would deregulate many of the laws from the original Casino Control Act and create an entertainment district within the boundaries of Atlantic City to be overseen by the Casino Reinvestment Development Authority. After signing the bills into law, Governor Christie announced that earlier that morning the Economic [E.D.A.] Development Authority of the State of New Jersey was going to provide 261 million dollars through tax rebates over a twenty-year period that would be generated once the Revel project was completed. Many people thought at this time that the state of New Jersey was going to own an interest in this property. The governor caused some of this confusion when he apparently stated that Revel had already raised most of the money. Later in the day a statement from Revel C.E.O. Mr. Kevin De Sanctis clarified that Revel had not yet secured financing and would make no further statements until a financing package was secured. Standard and Poors issued a revised preliminary rating late in the day on February 1, 2011. This was done because Revel had once again changed the structure of its proposed financing plan that had been submitted the week prior. On February 2, 2011 more specific details of the tax rebate incentives from the New Jersey E.D.A. appeared throughout the media. $125 million was to be spent on public works projects around Atlantic City benefiting the city in general. The remaining amount would be used to help Revel secure its financing. Revel announced that they would use 70 million dollars of the impending rebates to help it secure a portion of the bond package needed to buy out its partner, Morgan Stanley. On February 17, 2011, Revel Entertainment Group, LLC announced that it completed a $1.15 billion financing package which enables the company to complete construction of Revel. Re-starting the project put 2,100 construction craftsmen and craftswomen back to work and will result in full-time employment for approximately 5,500 people.
A construction tower crane collapsed in high winds on March 13, 2010, injuring one person on the ground.[16] Workers using welding torches to remove the collapsed crane sparked a rooftop fire on March 20, 2010 with no injuries and minor damage.[17]
Lightning from a brief but intense storm struck three concrete workers on September 15, 2011, killing one.[18] Later, on September 30, 2011, a worker was listed in critical condition after a head injury sustained from falling off of a ladder.[19]
| Preceded by Harrah's Waterfront Tower |
Tallest Building in Atlantic City 2010—present 710 ft |
Succeeded by none |
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