Its so exhausting thinking about where I should begin with this story. Should I tell you how much it cost for Revel Atlantic City to be built? 2.4 billion dollars. Should I explain all the catastrophies that have happened to Revel since being built? Airplane crash killing 3 executives, 2 bankruptcies, closing the doors after only 2 years in business leaving over 3,000 people unemployed, a money hungry power plant that will not let go of a ridiculous contract that deters people from bidding on the building, a buyer that bails on the sale of the building when most people in Atlantic City thought they (Brookfield) would be Revel’s saving grace. Those are just a few.
After months and months of uncertainty Atlantic City finally was given an answer- US Bankruptcy Judge Gloria C. Burns approved the sale of Revel for 95.4 million (pennies on the dollar) dollars to Florida investor Glenn Straub. When I read the story my jaw dropped. When I did a little more research and found out what Straub would like to do with the gorgeous property I put my head down and sighed in disbelief. Did he say a water park? An inside / outside 108 million dollar water park? All of a sudden scenes from Caddy Shack 1 and 2 start repeating over and over again in my head.
A water park on the north end of the island next to section 8 housing is not the answer to Revel or Atlantic City’s problems. Do I think that Atlantic City needs more family attractions to drive revenue to the city? Yes I do. Do I believe that doing it at Revel is a good Idea? No I do not. I think this concept would better in the marina district or a better area of the city in general. In addition to the 108 million dollar water park, Straub is going to spend millions of dollar on high speed ferries and catamarans from Manhattan to Atlantic city. Can I ask does anyone remember that high-speed rail-line that was supposed to connect New Yorkers to the wonderful island of Atlantic City? It was extremely expensive, rarely used, and shutdown quicker than it was built. High-speed ferries and catamaran’s would be extremely expensive for both Straub and its customers and most likely will be a waste of money.
What most people don’t understand is that while Revel as a hotel and casino failed, nightclubs, day clubs, restaurants, and some amenities were striving. HQ Nightclub and HQ Beach Club were know as 2 of the best venues in the northeast for nightlife and Day life. LDV’s American Cut and Azure complimented the building with superior fine dining. Bask spa was like something out of a movie and had guests lining up to take part. Below are a couple quick fixes that Straub could take to make Revel what it should have been (Instead of a Water Park):
- Create an elevator shaft that goes directly from valet, to the front desk. Yes the escalators look cool but they take forever and are scary as hell. When people arrive, all they want to do is check in- not take 6 escalator rides. OR Put the front desk on the first floor. Whoever had the idea of putting the front desk and check-in on the 11th floor should not be able to design buildings.
- Condense the casino and make it easier to get around. I can’t tell you how many people got lost in that building.
- Finish the remaining rooms in the first tower and then you can lower room rates and actually sell all the rooms. The rooms are absolutely gorgeous, they were never filled because they were too expensive.
- Food option: Have a couple food options on the cheaper side for breakfast an lunch so people don’t have to break the bank to get a snack or small meal. Not everything needs to be fine dining.
With all that being said, I believe in Revel and Atlantic City. I believe that there is opportunity here and that the city will make it through this tough time. I just don’t believe that Straub’s vision is the way to go.
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