Sunday, February 19, 2012

Revel Resort AC, mostly expect Rants

A new casino resort is coming to AC this Spring called *Revel*, thanks to our BIGoted Governor's financial support which makes me feel less like supporting Revel's business.
At first, it sounded great because they were going to be smoke free.
However, their latest announcements, leave me wondering about their positive influence on AC.

Many older regular AC patrons like us lost a home with CET after their lack of enforcing a smoking ban, increased catering to a younger and rowdier crowd at night, decreased comped offers, and suddenly charging for Diamond Lounges admission while food quality continued to diminish. Some, like us, found a new home at The Borgata where upgrading to Black Label became the best of the CET Diamond benefits. Others have been waiting for the opening of the Revel, mostly because of its boardwalk location. A boardwalk location without access to and from the boardwalk? They think people will be satisfied with the view from the windows but on a nice day, how about fresh air and sunshine? Also it will be uncomfortable walking to and from wherever the entrance will be from the boardwalk because the neighborhood isn't exactly tourist friendly. Guess it will help the jitney profits. Otherwise, Revel will have the same disadvantage as The Borgata being just an AC brand instead of a national one like CET.

OK no smoking sounds good but no buffet sounds bad to AC regulars. Being Black Label, we love being able to eat at The Borgata buffet for just $10 of comp each for breakfast, lunch or dinner. Comp dollars accumulate much quicker at The Borgata than at CET casinos. For dinner, we can eat at The Amphora Lounge instead for a different ambiance. Diamond players cannot eat at a Diamond Lounge until 2PM most days and the food quality does not even come close to Borgata's.

The only entertainment announced initially by the Revel has been a Burlesque club. AC already had plenty of hookers in their casinos at night and a Burlesque Club may be offering even more business for them. More recently, they are presenting a day time pool drinking and bikini club atmosphere. Bad enough, The Pool at Harrahs goes this route at night. Revel may be finding drunk young adults partying all day now. Hopefully, they will give them rooms away from other people trying to sleep at night. Oh and they are going to have barely clad girls hanging from the ceiling over gambling tables?? Way to keep middle aged women playing slots while their husbands watch these gals.

I am not seeing much for the older AC regulars in their lineup except the complete smoking ban which will hopefully be upheld. The Borgata cannot even enforce the partial ban and the smokers seem to know it and abuse it more and more. In a way, I am glad that what Revel seems to be promising will not tempt us away from The Borgata but I was hoping that they would cause enough of a threat to keep The Borgata as generous as it has been. After seeing CET throw away its AC Diamond players, I worry that one day The Borgata will do likewise without any competition. Revel's timing would have been perfect to provide a home base for the disgruntled Diamond players but they are refusing to have a tiered player's card. Maybe the people who changed the AC CET Diamond Lounge policies found employment with Revel.

Morgan Stanley let their first billion go, not to risk another billion to complete the project. Wish I could buy insurance for when The Revel bonds become worthless like some had bought mortgage insurance before the real estate and bank crash, even without having a specific mortgage to insure. There is probably core of investors waiting for The Revel to go bankrupt so they could buy it really cheap.
Somebody will get rich off this fiasco but not the NJ taxpayers.

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