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$2.5b crap out
New York Post, by Josh Kosman

Original Article

Posted By:StormCnter, 2/24/2013 9:22:23 AM

Last May, when the Revel casino opened in Atlantic City, the traffic light out front was reset on a four-minute cycle — in anticipation of epic traffic jams, one taxi driver says. Today, that cabby turns off his engine at the light to save gas. He’s one of only a handful of cars waiting. Revel was suppose to be a new kind of casino — no low-cost buffets, no smoking and a casino on a different floor than reception, with windows that looked on to the best Atlantic City beach, so gamblers did not lose track of place and time.

      


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Reply 1 - Posted by: bamapreacher, 2/24/2013 9:45:35 AM     (No. 9193380)

I think the Revel owners forgot the kind of gamblers they are dealing with in Atlantic City. The building is way too plain for the trash that comes to gamble there. It looks like a modern glass office building, and AC gamblers want tacky, at least along the boardwalk. The Marina area is a different story.

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Reply 2 - Posted by: uno, 2/24/2013 10:36:02 AM     (No. 9193460)

Another key factor is that with the adoption of gambling in so many states new casinos around the country have diluted the business for Vegas and AC

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Reply 3 - Posted by: wws, 2/24/2013 10:43:14 AM     (No. 9193473)

If you want to be a REAL casino, you gots to have rappers gunnin´ each other down on the doorstep.

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Reply 4 - Posted by: trombo, 2/24/2013 11:05:30 AM     (No. 9193509)

Most of the Atlantic City crowd are low rollers looking to play the penny slots, have a meal, play some more and go home. The boardwalk features junk stores and is a magnet for homeless people, who wander into the casinos and sleep by the machines. AC is hardly a "resort destination" and anyone who thought that people would go there for an upscale resort experience was seriously delusional.

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Reply 5 - Posted by: JAN, 2/24/2013 11:25:41 AM     (No. 9193545)

And who had the brilliant idea to build a casino in a dead city in the midst of a recession?

Can you say...boondoggle.



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Reply 6 - Posted by: Halfvast Conspirator, 2/24/2013 11:46:30 AM     (No. 9193577)

Diminished returns from a voluntary tax on the stupid.

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Reply 7 - Posted by: JHHolliday, 2/24/2013 12:04:29 PM     (No. 9193607)

Darwin´s law applied to business....invest in a bad idea and you lose your shirt.

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Reply 8 - Posted by: fobo, 2/24/2013 1:27:11 PM     (No. 9193713)

still can´t get past "best Atlantic City beach." That´s like world´s tallest midget.

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Reply 9 - Posted by: lakerman1, 2/24/2013 3:01:00 PM     (No. 9193818)

Pennslvania added casinos a few years ago, taking business away from atlantic city, and in western pa, pulling in Ohio residents who were casinoless.
Now ohio has added casinos, cutting into the Pa market.
I´m waiting for some interstate shootouts, as the market becomes more crowded.
(And NY is about to add casinos, currently reserved to indian tribes. Governor Cuomo has proposed something, but no one ever is able to understand him about anything. And the Indians are miffed...)

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Reply 10 - Posted by: FL_Absentee_Voter, 2/24/2013 5:21:18 PM     (No. 9193922)

Did the business plan mention that the casino would be on the second floor? Major violation of Rule #1.

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Reply 11 - Posted by: civilservant, 2/25/2013 2:07:27 PM     (No. 9195367)

#5, this puppy got started under economic/finanacial Sooper Geeneeus(According to Plugs Biden) Jon Corzine.

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