US – Revel to reopen as Ten in 2017 with 2,500 slots and 120 tablesBy Phil - 22 September 2016
The failed Revel casino resort has moved a step closer to reopening next year following a rebrand to the name Ten and approvals from the Casino Reinvestment Development Authority.
The $2.4bn resort, once seen as the saviour of Atlantic City, was barely open two years before being forced to close without ever making a profit.
Having been bought by Florida developer Glenn Straub for $82m, it now plans to reopen in the first quarter of 2017. The news follows the Casino Reinvestment Development Authority green light to changes made to the future resort’s traffic plan. The approval was delayed as Mr Straub refused to pay US$100,000 in Special Improvement District fees, which were later wiped by the authority.
John Palmieri, Executive Director of the Authority, said: “The CRDA today continued its commitment toward attracting appropriate new investment in the Tourism District.”
Mayor Don Guardian, a member of the board, added: “I’m in strong support of this project. We need to do everything that we can do to get Ten opened.”
The property will boast 13 restaurants, a spa, two theaters, three nightclubs, a day club and five pool areas, plus the 130,000 sq. ft. casino with 2,500 slot machines and 120 table games.
The new brand is supposed to reflect the resort’s mark out of ten with its logo representing its idyllic beachfront setting and complete guest experience as Atlantic City’s flagship property.
Ten will be managed by Robert Landino and Alan Greenstein, the former CFO at Revel.
Mr. Landino, CEO of Ten, said: “The number ten depicts the highest standard of achievement and is widely recognised as the benchmark of quality and excellence. In many ways, Ten is about a resurgence and commitment to the virtues of Atlantic City as a vintage East Coast destination while boldly redefining entertainment in today’s society. Ten joined with our infinity logo represents our mission to provide the highest-rated amenities and our daily endeavour to offer an infinitely perfect escape for our guests, families and businesses.”
Mr. Greenstein added: “I am keenly aware of what systems and strategic business processes are needed to make Ten a success internally and externally. I know what works and what did not, and would not have returned if not for Ten’s strong forecasted financial model and all-star executive team. It is the most spectacular resort that I have seen in my career, and I am determined to make it a success. Ten is a Las Vegas-quality resort directly on the beach. The name will get you in the door. The experience will keep you coming back. The Ten experience offers unrivalled elegance and affordable luxury for all that includes world-class rooms and suites, spas, pools, nightlife and day club escapes, gourmet dining, retail, a-list entertainment and gaming.”
The new managers added that they would place the Ten brand on the building, something Revel didn’t do.
The new brand has though been greeted with a mixed response, Professional poker player Jamie Kerstetter tweeted that it could refer to the number of months that the project will be in business for.