PHOTOS: Inside The Massive New Casino Resort That Could Save Atlantic City

revel soft openingSimone Foxman for Business Insider

On Monday, the Revel Atlantic City officially opened its doors to the public, marking the end of a project half a decade in the making.

As gaming lags in the Las Vegas of the East Coast, expectations are high for the casino resort to turn things around.

Click here to skip right to our tour of Revel >

Revel CEO Kevin DeSanctis boasted that the venture has already created some 10,000 jobs in the region—5,000 in the resort's direct employ. Of those workers, some 800 are Atlantic City residents, and most live in the greater Atlantic City area.

The company believes it harbors a unique view towards gaming and tourism among regional casinos and resorts. Their edge? Revel says gaming is not its primary attraction.

"The last thing Atlantic City needs is another casino," CEO Kevin DeSanctis told Business Insider on Monday. "A big part of the economics comes from the casino and that's what allows you to build places like this, at the end of the day. But the difference is in the customer that's spending that night. So as opposed to having a customer who's totally focused on gaming activity, you have a customer who's focused on a lot of non-gaming activity. Will they still play in the casino? Absolutely! Will they play a little less? Absolutely!"

Even so, the company still struggles with a $1.1 billion debt load in bonds rated as "junk" (or below investment-grade) by Standard and Poor's ratings agency. S&P has questioned the company's cash flow expectations, adding that "the rating also reflects Revel's reliance on a single property for cash flow generation in a challenged gaming market and a business model that relies heavily on spurring nascent demand from a distinct customer base--namely cash paying guests seeking a resort-type experience, as well as convention and group visitors."

Irrespective of these concerns, Revel is something different, at least in the Atlantic City gaming model. In a city full of windowless casinos that largely ignore their beachfront location and the city's warm summer climate, Revel emphasizes light—even allowing the Sun's rays to filter into the casino floor. Indeed, the ocean is the first thing guests see when they arrive at the general resort entrance. It highlights vast outdoor spaces for both hotel and day guest recreation.

What's more, Revel is entirely non-smoking, unlike other casinos which have fought to keep their gaming floors open to smokers. And while other casinos provide myriad elevators for largely immobile gamers, Revel encourages its clientele to walk around and take the stairs.

Regardless of one's beliefs in the success of its business model, it is hard to deny that Revel is a wild card in the world of East Coast gaming.


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