EvenBob
EvenBob
Joined: Jul 18, 2010
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August 12th, 2014 at 11:59:28 AM permalink
Quote: Fortalezo

Based on those statements, Revel's doing really bad, i.e., its net income was NEGATIVE $42,268,000 as of 3/31/2014. Borgata's not doing so well financially. Its net income was NEGATIVE $10,664,000. f



Most Vegas casinos are not operating at a
profit either and have huge debt. Yet they
stay open month to month and there's no
talk of closing. There is so many ways they
can fiddle with the numbers that it's hard
to tell what's really going on.
"It's not enough to succeed, your friends must fail." Gore Vidal
onenickelmiracle
onenickelmiracle
Joined: Jan 26, 2012
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August 12th, 2014 at 12:08:26 PM permalink
Any clue how much Revel pays to itself, to those responsible for failure to the Revel brand company? Where would this be hidden?
I am a robot.
ECoaster
ECoaster
Joined: Apr 21, 2014
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August 12th, 2014 at 12:48:57 PM permalink
I started going to Revel since the Gambler's Wanted campaign... which has yielded more promotions, free play, giveaways, and comped rooms than other A.C. casinos have offered for basically the same amount of play (and we're not talking about a huge amount either). Combine that with the fact that it's on the boardwalk and easily the nicest property in A.C.... and this is quite a shame.

I guess the poor first impressions they made on people (who never got over it or came back) combined with the high costs of just keeping the doors open were too much in the declining market.
sodawater
sodawater
Joined: May 14, 2012
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August 12th, 2014 at 1:33:20 PM permalink
Quote: ECoaster

I started going to Revel since the Gambler's Wanted campaign... which has yielded more promotions, free play, giveaways, and comped rooms than other A.C. casinos have offered for basically the same amount of play (and we're not talking about a huge amount either). Combine that with the fact that it's on the boardwalk and easily the nicest property in A.C.... and this is quite a shame.

I guess the poor first impressions they made on people (who never got over it or came back) combined with the high costs of just keeping the doors open were too much in the declining market.



It wasn't a poor first impression. It was poor first, second, third, fourth...nth impressions. Revel was consistently mismanaged, poorly staffed, and clueless. Yes, the building was nice. But even then, the design made no sense. There were vast empty areas that were a pain to walk through, to staff, to heat, cool, and light. The casino was 90 feet above the boardwalk! You couldn't get to it. The theater entrance was on the ground floor. You didn't need to go to the casino to go to a show! The hotel lobby was in the middle of nowhere. The parking garage was disconnected from the rest of the property. The rooms themselves were often dirty. Lights and appliances rarely worked.

Revel was just a complete mess from the beginning.
strictlyAP
strictlyAP
Joined: Jun 20, 2012
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August 12th, 2014 at 1:40:57 PM permalink
def +1
The bet will not be paid- not now not ever
DMSCR
DMSCR
Joined: Apr 15, 2012
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August 12th, 2014 at 1:49:13 PM permalink
Revel is done for. Can't cry much about it. Just feel bad for all the people that is going to be unemployed by this. The folks tried but the wrong strategy (trying to be high end Vegas) for AC.

Just hopefully AC as a whole can find a way to redefine and rescue itself some how in some way. Maybe this is the microcosm and a warning for what's to come for the North East since every state is trying to build all these casino resorts trying to chase the fix amount of gambling dollars available.
Wizard
Administrator
Wizard
Joined: Oct 14, 2009
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August 12th, 2014 at 1:50:03 PM permalink
I'm thinking of making a trip back east within the next 30 days. If I go, it would be nice to see the Revel before they shut the doors.

So I looked into booking a room there and from their web site you would think they were booked solid from now until forever.
It's not whether you win or lose; it's whether or not you had a good bet.
DMSCR
DMSCR
Joined: Apr 15, 2012
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August 12th, 2014 at 1:52:36 PM permalink
If you make it out there please take lots and lots of pics.
EvenBob
EvenBob
Joined: Jul 18, 2010
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August 12th, 2014 at 1:53:22 PM permalink
Quote: Wizard


So I looked into booking a room there and from their web site you would think they were booked solid from now until forever.



I bet they are booked, everybody has heard
they're closing and is using their comps.
"It's not enough to succeed, your friends must fail." Gore Vidal
sodawater
sodawater
Joined: May 14, 2012
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August 12th, 2014 at 2:46:06 PM permalink
Quote: Wizard

I'm thinking of making a trip back east within the next 30 days. If I go, it would be nice to see the Revel before they shut the doors.

So I looked into booking a room there and from their web site you would think they were booked solid from now until forever.



That's because they have already closed huge swaths of floors on the hotel. They're not really "booked solid" by the number of rooms they have total -- just from the number of rooms they allocate to actually booking.

It's pretty funny because obviously they are allocating 0 rooms to booking after a certain point, likely Sept. 10.

Or else there are a lot of optimists booking rooms for the spring of 2015:


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