ATLANTIC CITY, New Jersey – It has been reported that Revel, the $2.4 billion Atlantic City casino resort that almost didn’t get built, cleared its final major hurdle on Monday. The New Jersey Casino Control Commission approved a casino license for the resort, which will become the city’s 12th casino when it opens April 2. Gambling is only part of the resort; it also has a luxurious spa, 14 restaurants, 10 pools, and a theater with 5,050 seats that will host Beyonce on Memorial Day weekend.
“We’ve convinced people for 30 years that if you’re not a gambler, you can’t come here,” said Kevin DeSanctis, Revel’s president and CEO. “We want to convince them you can. We’d love to have you.” The project ran out of money during the recession, but resumed last year with the help of some state tax incentives. Original backer Morgan Stanley pulled out of the project and took a $1.2 billion loss on it. DeSanctis said much of the remaining financing the project obtained came from J.P. Morgan. Located at the extreme northern end of the Boardwalk, next to the Showboat Casino Hotel, Revel is the first casino to open since its main rival, the Borgata Hotel Casino & Spa, debuted in 2003. With its angular slanted roof and its giant white light-up ball atop the 47-story structure, the second-tallest in New Jersey at 710 feet (216 meters), Revel is already an iconic presence in America’s second-largest gambling market.
Its sleek reflective glass bathes the beach in shards of brilliant light, and even the contours of its foundations were designed to appear as if they had been sculpted by waves. Revel is being counted on to help revive the struggling seaside gambling resort, which soon will be surpassed by Pennsylvania as the nation’s second-largest gambling market after Las Vegas. The resort will be Atlantic City’s first smoke-free casino.