Revel Atlantic City
Encyclopedia
'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 acre (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. Revel resumed construction in February, 2011 after new financing was secured. 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.
. 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. 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.
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.
A complete Smoke-Free policy is under consideration.
.
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.
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. 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.
Lightning from a brief but intense storm struck three concrete workers on September 15, 2011, killing one. Later, on September 30, 2011, a worker was listed in critical condition after a head injury sustained from falling off of a ladder.
Entertainment
Entertainment consists of any activity which provides a diversion or permits people to amuse themselves in their leisure time. Entertainment is generally passive, such as watching opera or a movie. Active forms of amusement, such as sports, are more often considered to be recreation...
resort
Resort
A resort is a place used for relaxation or recreation, attracting visitors for holidays or vacations. Resorts are places, towns or sometimes commercial establishment operated by a single company....
, hotel
Hotel
A hotel is an establishment that provides paid lodging on a short-term basis. The provision of basic accommodation, in times past, consisting only of a room with a bed, a cupboard, a small table and a washstand has largely been replaced by rooms with modern facilities, including en-suite bathrooms...
, casino
Casino
In modern English, a casino is a facility which houses and accommodates certain types of gambling activities. Casinos are most commonly built near or combined with hotels, restaurants, retail shopping, cruise ships or other tourist attractions...
and spa
Spa
The term spa is associated with water treatment which is also known as balneotherapy. Spa towns or spa resorts typically offer various health treatments. The belief in the curative powers of mineral waters goes back to prehistoric times. Such practices have been popular worldwide, but are...
under construction in Atlantic City, New Jersey
Atlantic City, New Jersey
Atlantic City is a city in Atlantic County, New Jersey, United States, and a nationally renowned resort city for gambling, shopping and fine dining. The city also served as the inspiration for the American version of the board game Monopoly. Atlantic City is located on Absecon Island on the coast...
, United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
on 20 acre (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. Revel resumed construction in February, 2011 after new financing was secured. 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.
Design and construction
Revel's hotel tower, is the tallest structure in Atlantic City and the second tallest in the state of New Jersey at 47 stories (710 ft)216 m (708.7 ft). 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 BorgataBorgata
The Borgata Hotel Casino and Spa is a luxury hotel, casino, and spa in Atlantic City, New Jersey, United States. It is owned by Marina District Development, a joint venture between Boyd Gaming and a divesture trust established by MGM Resorts International...
. 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
Scéno Plus
Scéno Plus Inc. is a Montreal-based entertainment design firm founded in 1985. It specializes in the design of cultural and recreational venues such as multidisciplinary spaces, small creative studios, circus theatres, concert halls, large-capacity theatres, cinemas, convention centres, event...
, a Montreal-based design firm, collaborates with other professionals to design core entertainment spaces as well as 150,000 feet of casino. 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.
Amenities
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 acres (8,093.7 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.
A complete Smoke-Free policy is under consideration.
Lighting
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 VegasLas Vegas Strip
The Las Vegas Strip is an approximately stretch of Las Vegas Boulevard in Clark County, Nevada; adjacent to, but outside the city limits of Las Vegas proper. The Strip lies within the unincorporated townships of Paradise and Winchester...
.
Financing
Construction of the resort will cost $2.4 billion.Global Financial company Morgan Stanley
Morgan Stanley
Morgan Stanley is a global financial services firm headquartered in New York City serving a diversified group of corporations, governments, financial institutions, and individuals. Morgan Stanley also operates in 36 countries around the world, with over 600 offices and a workforce of over 60,000....
, 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.
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. 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.
Workplace safety incidents
A construction tower crane collapsed in high winds on March 13, 2010, injuring one person on the ground. Workers using welding torches to remove the collapsed crane sparked a rooftop fire on March 20, 2010 with no injuries and minor damage.Lightning from a brief but intense storm struck three concrete workers on September 15, 2011, killing one. Later, on September 30, 2011, a worker was listed in critical condition after a head injury sustained from falling off of a ladder.