Atlantic City’s US$2.4b Revel Resort gets opening date

ATLANTIC CITY One of the most expensive resorts ever built has been given an official opening date, after the global economic crisis slowed development dramatically.

The 1,100-key beachfront Revel Resort will open next May 15, more than four years after work began on the megaresort. Construction on the US$2.4 billion project was halted back in March 2009 after financing evaporated; it was resumed in February with a US$1.15 billion cash infusion, including a US$260 million investment from the state of New Jersey.

Revel Entertainment Group LLC CEO Kevin DeSanctis surprised the audience at the East Coast Gaming Congress with the news. “We expect to employ over 5,000 workers when we open in May, less than a year from now,” he told the crowd.

The May opening will be soft, with a more elaborate grand opening ceremony expected in July 2012.

Revel will feature theaters, restaurants, retail shops, nightclubs, a spa, pools and its own beach to complement 150,000 sq. ft. of gaming space. It will be one of Atlantic City’s most upscale properties and is expected to challenge Borgata Hotel Casino & Spa for market supremacy.