Revel, the $2.4 billion Atlantic City casino hotel that has been shuttered since September 2014, is being revived under a new name, Ten. The resort’s new owner plans to open Ten in the first quarter of 2017 with the same mix of luxury rooms, high-end dining, night life and gambling offered at the ill-fated Revel, which opened in 2012.
An announcement today provided only sketchy details of the revived resort. According to a press release, Ten will have “13 restaurants with all types of cuisine,” as well as a luxury spa, two theaters, three nightclubs and 130,000 square feet of “casino/gaming space.”
Glenn Straub, a Florida real estate developer, paid $82 million for the bankrupt Revel in April 2015. He is rebooting the resort with a new management team headed by CEO Robert Landino, an engineer and entrepreneur who has launched several companies and served in the Connecticut House of Representatives.
The plan for Ten is subject to state licensing approvals. New chief financial officer Alan Greenstein, who served as Revel’s CFO, says “millions of dollars” have been invested in reopening the resort.
The gleaming, 47-story Ten is located at the now-quiet northern end of Atlantic City’s historic Boardwalk. As Revel, it was once seen as the driver that would turn around the city’s economic picture. Instead, it became symbolic of the excesses that sent New Jersey’s gambling mecca into a downward financial spiral. Four of Atlantic City’s 12 casinos—including Revel—closed their doors in 2014.Click here to leave a comment