It's out with the old and in with the new for the beleaguered Revel casino property in Atlantic City, which has been rebranded under a new moniker.
Revel, the $2.4 billion casino property in Atlantic City owned by Florida developer Glenn Straub, will now be known as "Ten."
<figure class="media media--ruled media--featured media--featured--landscape ct hidden--xs hidden--sm hidden--md">
The former Revel will now be known as Ten.
</figure> “Ten joined with our infinity logo represents our mission to provide the highest-rated amenities and our daily endeavor to offer an infinitely perfect escape for our guests, families and businesses,” CEO Robert A. Landino said in a statement.
Slated to open in the first quarter of 2017, "pending state of New Jersey licensing approvals" — the property will have 130,000 square feet of casino and gaming space, 13 restaurants "of all types of cuisin", spa, two theaters, three nightclubs, a day club with a performance deck and five pool areas.
Here's a rundown:
Revel, which never made a profit in the two years it operated, was one of four casinos that closed in 2014, but the executive team is bullish.
“I am keenly aware of what systems and strategic business processes are needed to make Ten a success internally and externally," CFO Alan Greenstein said in a statement.
Greenstein recently served as CFO of the Revel for seven years — five years in the pre-opening planning phase and the last two operationally.
"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," Greenstein said. " It is the most spectacular resort that I have seen in my career and I am determined to make it a success."
The rebrand is the latest announcement concerning Revel from Straub, who has continually declared openings for the boardwalk property, only to have them fall through because necessary steps with the city and other regulatory agencies were not taken.
He insisted the property would open back in June this year but lacked the necessary paperwork for city officials to clear the property for its opening.
Earlier this year, Straub did not have a liquor license from state gaming regulators, a temporary certificate of occupancy from the city or a permit from the Casino Reinvestment Development Authority, or CRDA.
The developer abruptly left a meeting with the CRDA last week after he was asked for a landscaping plan and threatened to withdraw.
Revel, the $2.4 billion casino property in Atlantic City owned by Florida developer Glenn Straub, will now be known as "Ten."
<figure class="media media--ruled media--featured media--featured--landscape ct hidden--xs hidden--sm hidden--md">
The former Revel will now be known as Ten.
</figure> “Ten joined with our infinity logo represents our mission to provide the highest-rated amenities and our daily endeavor to offer an infinitely perfect escape for our guests, families and businesses,” CEO Robert A. Landino said in a statement.
Slated to open in the first quarter of 2017, "pending state of New Jersey licensing approvals" — the property will have 130,000 square feet of casino and gaming space, 13 restaurants "of all types of cuisin", spa, two theaters, three nightclubs, a day club with a performance deck and five pool areas.
Here's a rundown:
- 6.3 million square feet, 47 stories, situated on 20 acres
- 1,399 hotel guest rooms and suites (500 unfinished rooms with the ability to build a second hotel tower with an additional 1899 rooms – potential total room count of 3798 rooms)
- 13 restaurants with all types of cuisine
- 32,000 square feet of spa space with 32 treatment rooms
- Over 7,000 space parking garage
- 55,000 square feet of retail space
- Two theaters with capacity for 5,000 and 700
- Three nightclubs, a day club with performance deck, cabanas and salt water pool (42,000 square feet of space) and total five pool areas (indoor and outdoor)
- 130,000 square feet of casino/gaming space with 2,500 slot machines and 120 table games
Revel, which never made a profit in the two years it operated, was one of four casinos that closed in 2014, but the executive team is bullish.
“I am keenly aware of what systems and strategic business processes are needed to make Ten a success internally and externally," CFO Alan Greenstein said in a statement.
Greenstein recently served as CFO of the Revel for seven years — five years in the pre-opening planning phase and the last two operationally.
"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," Greenstein said. " It is the most spectacular resort that I have seen in my career and I am determined to make it a success."
The rebrand is the latest announcement concerning Revel from Straub, who has continually declared openings for the boardwalk property, only to have them fall through because necessary steps with the city and other regulatory agencies were not taken.
He insisted the property would open back in June this year but lacked the necessary paperwork for city officials to clear the property for its opening.
Earlier this year, Straub did not have a liquor license from state gaming regulators, a temporary certificate of occupancy from the city or a permit from the Casino Reinvestment Development Authority, or CRDA.
The developer abruptly left a meeting with the CRDA last week after he was asked for a landscaping plan and threatened to withdraw.
