Revel’s First Month Shows Disappointing Revenues

My optimistic prediction about the new Revel casino’s fate in the current Atlantic City market isn’t looking very prescient after the first month’s numbers are in.  In April, its first month of operation, the casino brought in only $13.4 million in gambling revenue, a number that certainly disappointed those who were bullish on the resort’s chances of invigorating the AC market.  That number puts the resort near the bottom of the list for Atlantic City, and far behind market leader Borgata which earned $54 million in the same period.

An article in the Press of Atlantic City quotes Revel’s CEO blaming technical glitches for much of the slow start.  Problems with TV reception in the hotel caused many rooms to be shut down, and a technical problem caused delays in promotional offers for slots.

Whatever the cause, we’ll have to wait and see if the numbers improve after the facility’s official grand opening slated for Memorial Day weekend.