Atlantic City's Revel hopes for comeback following CEO shake-up
Skift Take
Revel tried to make Atlantic City classy -- a tough act. The realization that success rests on gaming and entertainment and not New York's cool crowd may fix its previous marketing missteps.
Revel can be fixed.
That's the belief of analysts, casino executives and political leaders. Although they said Revel's problems are serious, they are not insurmountable.
They also predicted that the $2.4 billion luxury megaresort may yet fulfill its promise to expand the Atlantic City market now that new management has taken over.
Revel made a series of missteps, including pursuing a marketing strategy that may have overlooked or outright ignored key segments of the city's customer base, analysts noted.
State Sen. Jim Whelan, D-Atlantic, said Revel had the misfortune of opening at a time when the economy soured and competition from casinos in surrounding states became much more intense.
"With the economy and the national competition, it clearly turned out that it wasn't the best time to open a megaresort casino," Whelan said. "I think everybody would acknowledge, including Kevin, that the performance was not what was wanted."
Whelan was referring to Kevin DeSanctis, the CEO who built Revel but stepped down Wednesday in a management shake-up. Jeffrey Hartmann, a 20-year veteran of the casino, hospitality and leisure industry, h
