Saturday, August 10, 2013
Revel vs Borgata vs CET
The Borgata clearly came out on top of all of the other casinos in July.
Next highest winner in increasing revenue was Revel.
Revel believes their best month ever is showing a turnaround in their business. It is a total joke. First of all, many people lost money there believing they would get it all back but didn't read the fine print that the losses would be paid back in slot play over the course of 20 weeks, meaning they would have to go there once a week for 20 weeks to get the slot play dollar replacement. Meanwhile, the Borgata had a much higher July revenue partially because people who read the fine print chose to play there. Many took their generous Borgata offers over to Revel to receive matching offers, doubling their free play. The Revel match play actually helped The Borg, attracting more July visits to AC! The Borgata is already offering us more generous slot bonuses in September than ever so should continue to see improved revenues as people go to Revel to get their free slot play for their losses.
An extra plus for me is The Borg finally replaced their music soundtrack! What a relief to hear some decent music instead of annoying noises when playing.
All AC CET casinos had their revenues go down also losing business to The Borg. There are several reasons why the AC regulars are switching to The Borg from the AC CET empire. First CET started charging for Diamond lounges a couple of years ago. Then they raised the Diamond tier by almost 50% this year. The Borgata upgrades all Diamonds to Black Label and gives free slot play and entrance to their buffet or Amphora Club with the first upgrade. Comp dollars accumulate much faster at The Borg so earning the $10 comp entrance fee to their buffet and lounge is much faster. Earning those entrance fees enables staying Black Label, making earning Black Label a better alternative to trying to stay Diamond for moderate regular AC gamblers. I calculated the same slot play earns a Black Label $10 comp at least 2 times faster at The Borg! Cannot even compare the quality of The Borg buffet and lounge with that of the Diamond lounges. CET's only advantage is having locations outside of AC, especially Vegas.
However, the new Total Rewards Platinum credit card was a great decision. It enables free parking and no early check-in fees with a free Platinum upgrade plus an easy way to earn CET comp. Too bad they also offer a Vegas buffet of buffets freebie and no comparable free buffet in AC. Speaking of buffets, another stupid thing CET did was remove lunchtime hours from Harrah's buffet, making the free buffet for their regular players less accessible on Mondays and Thursdays. Meanwhile, the nearby Gold Nugget has made their buffet a great alternative for players from nearby Harrahs with lots of buffet promotions and lower prices. Removing the Wild West Virgina City buffet has made the Ballys-Caesars connected property less attractive for the AC regulars. Revel has remained without a buffet for lunch and dinner.
For Gold players, CET now charges an early check in fee in addition to their extra $8 a night in fees for comped rooms. Ironically, Revel has recently decided to raise their comped room fees by an additional $7. An AC regular can get a comped room at The Borg for $5 a night so why pay $13 at CET or $12 at Revel?? The Borg renovated their Classic roooms last year, making all of their rooms nicer than most CET rooms. Never did try the comp stay at Revel last summer because we couldn't access their room reservation system either online or by phone. Also the AT&T mobile service is limited on their property, making it difficult for my husband and I to communicate. Both their reservation system and the AT&T reception have not improved since their opening.
We prefer to play and eat wherever we are staying. So we eat better and stay in nicer rooms for less fees at The Borg than CET. Best of all, we win alot more than we ever did at CET!
Here's some of the numbers:
http://www.businessweek.com/ap/2013-08-09/nj-casino-revenues-down-3-dot-6-percent-in-july
ETA:
an article in the Newark Star-Ledger states the Borgata's Executive VP Joe Lupo said the casino profited from displeasure with Revel's slot promotion.
Friday, October 5, 2012
Revel is Sinking
Now the gamblers who were offered free play and comped rooms during the summer have seen their offers dwindle since the summer season is over. Most are returning to their previous local and/or AC casinos.
Basically, this 2.4 billion dollar monstrosity was built to keep 20-somethings drunk. However, some 20-somethings may prefer places with easier access to smoking areas and cheaper drinks.
Sunday, September 30, 2012
Third Hand Smoke
I just saw this today and copied it below.
Never even knew about it before!
Really hope AC bans all smoking indoors soon.
Many Smokers are really rude and do not follow the existing bans.
Revel which is the only non-smoking casino in AC has too many other flaws to attract my play.
"What is thirdhand smoke, and why is it a concern?
Answer
from Lowell Dale, M.D.
Thirdhand smoke is generally considered to be residual nicotine and other chemicals left on a variety of indoor surfaces by tobacco smoke. This residue is thought to react with common indoor pollutants to create a toxic mix. This toxic mix of thirdhand smoke contains cancer-causing substances, posing a potential health hazard to nonsmokers who are exposed to it, especially children.
Studies show that thirdhand smoke clings to hair, skin, clothes, furniture, drapes, walls, bedding, carpets, dust, vehicles and other surfaces, even long after smoking has stopped. Infants, children and nonsmoking adults may be at risk of tobacco-related health problems when they inhale, ingest or touch substances containing thirdhand smoke. Thirdhand smoke is a relatively new concept, and researchers are still studying its possible dangers.
Thirdhand smoke residue builds up on surfaces over time and resists normal cleaning. Thirdhand smoke can't be eliminated by airing out rooms, opening windows, using fans or air conditioners, or confining smoking to only certain areas of a home. Thirdhand smoke remains long after smoking has stopped. In contrast, secondhand smoke is the smoke and other airborne products that come from being close to burning tobacco products, such as cigarettes.
The only way to protect nonsmokers from thirdhand smoke is to create a smoke-free environment, whether that's your private home or vehicle, or in public places, such as hotels and restaurants."
Wednesday, September 5, 2012
Toxic People and Revel
People are taking the slightest negative comment about Revel as a personal attack and reacting quite nastily.
They are blaming Revel's flaws on people who express them instead of on Revel and blaming people who express these flaws for Revel's lack of success.
They go as far as claiming there is a conspiracy for Revel to fail by cigarette manufacturers and smokers because it is *No Smoking*, etc.
Meanwhile, there is a real conspiracy to attack anyone who doesn't love Revel.
Heck even the good reviews mention the same flaws!
All this does is make Revel look even worse.
Who wants to eat and play near toxic people???
Not me!
ETA:
a bit of irony...
2 new positive Revel Reviews complained about other patrons who had complaints.
Friday, August 17, 2012
Revel vs Borgata
Pretentious
The numbers are in and Revel may be facing bankruptcy even sooner than expected. Morgan Stanley obviously made a wise decision not to sink another billion into Revel's completion. I saw so many flaws in the building's construction when visiting it, making it the perfect set for a disaster movie and most reviews, even favorable ones, continue to have complaints about its management and customer service. The management overall seems totally inexperienced in running a casino or a hotel.
Aesthetically to me if felt like an airport or mall.
Dark, cavernous, and uninviting.
Add to that that the people who love Revel mostly seem to have a condescending attitude online, personally attacking people who do not love the place while being totally blind to Revel's many flaws. These are not the type of people I want to be sitting next to when playing slots, especially after they had too much to drink.
Whoever designed the building was clueless to what a resort, a resort which happens to have a casino, or a gambling resort should offer.
It may have looked good on paper but clearly, it's an architectural nightmare.
Whoever designed their convention facilities was clueless. Attendees usually are late because of the navigation to those rooms while lugging their materials along with them.
Whoever decided not to have a convenient place for smokers to take a smoking break was clueless.
Whoever decided not to have direct access to the boardwalk and beach was clueless.
Whoever decided not to include a racetrack simulcast and therefore, no future sports betting facilities was clueless. Also whoever decided to hide the poker room was clueless.
Whoever made many business decisions such as no buffet was clueless.
(most fancier restaurants in AC hotels have been closed midweek).
Whoever decided not to have an in room coffee maker and refrigerator was clueless.
Whoever designed their online site was clueless.
Whoever designed their phone reservation system was clueless.
Whoever hired and trained the whole staff were clueless as well.
Whoever was in charge of the marketing and players rewards were clueless.
Bottomline, the CEO who happens to be a part owner of this venture was clueless.
They supposedly fixed the AT&T mobile signal which made the building very inconvenient for AT&T subscribers but it still didn't work for us on our last trip AFTER the reported fix.
There are still many reports of hallway noise from inconsiderate and/or drunk partiers when staying overnight, interfering with sleep, even now when the place is comparatively empty.
Their Player rewards system is totally unreliable even though they have hired a more qualified person, it is too little too late.
The design of the building is unsafe, confusing and demands alot of mobility, making it difficult for both older patrons and younger often drunk patrons. Cannot imagine what it would be like if an immediate evacuation situation were to occur, empty or crowded. The building does not have safe access for evacuation in case of an emergency if it is hard to navigate when there is no urgency.
Even walking through the empty casino is confusing without adequate signage.
Just finding the larger public bathrooms can be tricky.
Lots of open spaces but very little space for people and traffic flow within the casino and between the floors.
In no way will their business improve enough to avoid bankruptcy. Most people interested in the resort have already checked it out during its first summer and first impressions are lasting impressions.
Even if somebody qualified to run a casino resort took it over, the building design has too many flaws.
Governor Christie is expecting Revel to revitalize AC and is trying to delay slot machines at NJ racetracks for at least 5 years while all neighboring states are striking gold with their racinos. This in addition to his veto of gay marriage, has made his popularity in NJ decline. I am predicting his political future is about as limited as Palin's.
ETA: After Hurricane Sandy, I am now a Gov Christie fan!!! LOL
He may have burnt his bridges with the Republican Party but is a true Commander-in-Chief.
Sandy will be an excellent scapegoat for why Revel has failed.
I would blame its failure on not being able to compete with The Borgata from the beginning, being pretentious (smoke and mirrors) while The Borgata delivers all that Revel lacks.
Revel's only advantage is being on the boardwalk with some great views and no smoking.
Now it is rumored there will be smoking on the gambling floor and some guest rooms which hopefully is well contained. Don't know how this building passed any fire and safety inspections or received any liability insurance coverage.
ETA: NJ Bar convention got smart and switched back to The Borgata instead of trying Revel in May. Revel never could have handled over 2,000 bodies and bellies.
ETA: Revel ruined the one good thing it had going for it and now has smoking on the casino floor.
ETA on 7/5/2013: The casino floor at Revel still does not get an AT&T signal so even if I liked the place, I wouldn't stay there.
Friday, June 1, 2012
Time for Another AC Rant LOL
The WW buffet always had a line because of its promotions, price and quality so it was obviously the most popular buffet in AC.
An ignorant reporter implied the WW buffet closing was a business decision similar to that of Revel's not to have a buffet because of less day trippers to AC. Well people aren't flocking to Revel to eat and play as expected and now, way less will be flocking to Ballys.
With just a 2 week warning, CET (Caesars, Harrahs, Ballys and Showboat) started charging for their Diamond Lounges a year ago, promising improved food. Diamond Lounge attendance greatly dropped immediately. Their quality is even worse now and the Diamond Lounges have become ghost towns. Wonder if they ever bothered to check how many Diamond players they have in 2012 compared to 2011. Since many players were close to Diamond when the lounges started charging in 2011, 2013 will have even less Diamond card holders than 2012. Once a regular AC CET Diamond player switches their play to The Borgata and sees how much quicker the comp dollars accrue while earning superior meals at both the buffet and Amphora Lounge, they will not bother to pursue CET Diamond status anymore.
The Borgata is brilliant in allowing player upgrades and is obviously going to remain the most profitable casino resort in AC. Cannot trust business decisions made by either CET or Revel but thankfully, The Borgata continues to reward its players, year after year.
Friday, May 18, 2012
BAK from an overnighter
Anywho made some new discoveries, some good, some not so good.
A couple of the Good:
Slots seemed looser at Showboat and The Borgata.
The Bortgata buffet had incredible chocolate covered pretzels on their desserts.
The Wild West Buffet has a new collection system for the earn a free buffet coupon that enabled people to go right in without waiting on the cashier line.
The Bad:
I ate way too many chocolate covered pretzels.
The Wild West earn a buffet offer is ending this month just after improving the line wait.(last year it continued in June)
Showboat wanted $20 more for a Boubon Tower upgrade, even though I had reserved a comped Premium room so they are playing games like Ballys. Also Showboat may start charging extra for early check-ins when their one great feature was not making folks wait for a room if one is available. Guess they are getting extra business with Revel next door but they best be careful not to piss off their regular customers too much. The Summer will end and so will their reservations.
OK so Revel is starting to try to lure the higher tiered players into their casino with free parking, free slot play, comped rooms, etc. They are offering Tier 3 and 4 a whooping $50 slot play. Heck my Red label and DH's Black label each got $40 free play today at The Borgata Mystery Slot Bonus and we do not have to earn $500 comp dollars to get a free room!!! Plus The Borgata charges $5 in room taxes/fees to Revel's $35! Thanks but No Thanks. The main incentive for us to keep DH Black Label is the $10 comp entry into The Borgata's buffet or Amphora Lounge. Still no incentive for us to play at Revel.
If the new casino in town wants to lure customers away from their home base, the offers have to be better than those the home base is already offering.
Wednesday, May 16, 2012
Why The Borgata, not Revel?
From there it all goes downhill for me.
Basically dislike their whole attitude from their CEO to their Facebook rep.
Overpriced rooms, food and alcohol do not interest me
Nothing to see or do there if not a hotel guest except gamble
No incentive to gamble there for the moderate gambler
and I usually play the most where I am staying
No buffet ( I am a taster so prefer variety when eating)
no horseracing simulcast for DH
dark confusing casino with mostly high minimum penny slots
no clue where the real full size restrooms were
high escalator casino access and do not care for elevators either
(still trying to figure out how they passed fire and safety inspections because the building is a disaster scenario in the making if there is a real emergency)
BTW it took quite a few years for The Borgata to lure us away from CET Diamond status and I was hoping for another casino alternative for variety. The only advantage CET has over The Borgata is their properties elsewhere. Revel lacks that advantage as well.
The Borgata is far from perfect though CET and Revel make The Borgata seem perfect by comparison. From the revenues, looks like alot of other people feel similarly.
So our not-so-wonderful governor ignored the state owned racetracks, donated $$ to Revel, and vetoed gay marriage. Would be a hoot if he ran as VP and NJ goes to Obama.
ETA: Revel is adding more incentives to play for higher tiered players. Too little, too late for us to become fans but DH will get his $50 free play for signing up with his Borgata Black Label.
Saturday, May 12, 2012
AC and UK Toughmudder 2012

We just spent a couple of days in AC with beautiful weather. Walked over 40,000 paces while our poor son in London did his first (and maybe last?) Tough Mudder. Really don't have any details other than a sunburnt bald head and a swollen ankle. LOL
He really looks happy in most of the photos instead of in pain.
More photos are at the bottom.
Revel's soft opening seems like a bust and as usual, the only consistently successful casino in AC has been The Borgata.
Anywho I was shocked at how empty Harrahs was on Thursday and Friday. Friday evening there is usually a line at the Diamond Lounge but it was so empty it almost looked closed. Guess alot of Diamonds didn't bother staying Diamond this year like us.
Almost have used all of the $25 coupons that came with the CET Platinum book, mostly for nice breakfasts. Food highlights were a delicious char-broiled pork and egg sandwich at Showboat's Mansion which is closing. Also the wonderful Veggie Benedict at Caesar's Cafe Roma. Definitely, get their Veggie Benedict instead of their horrible breakfast buffet!
Bally's Wild West dinner buffet only cost us $12 in losses to get the free buffet coupons for Friday night (10 points each) and the line wasn't bad. Maybe 15 minutes tops but we ate early just before 5PM (they open at 3PM on Fridays). Pretty decent steak and brisket. Lima Bean soup was really good too. They even had my favorite oreo pie! Dinner buffet is superior to the lunch buffet and the play 10 points for a free buffet is good for either buffet, seven days a week.
Harrahs Cafe Cappuccino has been replaced with an Italian cafe like the one in Caesar's lobby. Alittle overpriced but interesting choices. Seems to be an improvement except doesn't accept the coupons. Otherwise, Harrahs food options have been greatly compromised with the loss of Reflections and no more breakfast buffets. Only a brunch buffet now on both Saturday and Sunday. Sorry but not paying over $50 comp for breakfast when The Borgata is $10 comp each and accumulates twice as quickly. Haven't a clue how to use the last Harrahs $25 coupon. Maybe they will send us a free buffet coupon in May or June because we have stayed and played there once a month or so.
ETA: Son's ToughMudder other photos





Saturday, April 7, 2012
BAK
Popped into Revel and was totally underwhelmed, especially since the penny slots were mostly higher minimums than I prefer to play and there is no incentive to play there. Place felt cold, dark, and depressing. Alot of hype for nothing but what will become an Albatross in AC. Governor Christie should have helped the racetracks become racinos instead.
We did enjoy The Borgata and Caesars and wonderful meals.
ETA: How in the world does Revel plan to pay its bills if successful casinos like The Foxwoods is struggling??
ETA: Revel doesn't start checkins with hotel clerks till 4PM.
There are machines that start checkins at 3PM.
No earlier checkins unlike the other AC hotels.
Sunday, April 1, 2012
Revel Huge Mistakes
Instead of keeping what works in AC and adding what is lacking in AC, Revel is lacking much of what people expect and adding stuff that will not attract as much business as they believe, like a beach party but not on the beach at a beach bar. Breathtaking views are nice but same can be seen from the boardwalk or even from the pier mall and Revel actually stole the view from half of the Showboat's hotel rooms. Better yet, a walk outside on the beach or boardwalk when weather is agreeable is better than any view but Revel doesn't seem to have any direct access to the boardwalk or beach. There are plenty of beautiful beaches to visit in NJ without a surrounding inner city providing an obstacle to the beach. OK there's plenty of places to talk and sit inside and outside the Revel but what's the point if the chairs aren't comfortable? The outside areas are built in such a way that there will be a constant wind which will make the fire pits less enjoyable. Some folks have been told the inside sitting areas are for decoration, not sitting???
I do like their No Smoking policy but it will definitely cut hugely into their bottomline. The Smokers will come and try to do their thing, making it uncomfortable for the nonsmokers as well as a real challenge for the security at Revel. All other AC resorts have more or less given up trying to enforce a partial smoking ban. If I could have a buck for every butt found in nonsmoking areas, I would be a multimillionaire. There will be walls of smoke to penetrate at the first point of the end of the Revel property, even if their security is successful.
The list of many other dumb business decisions which will deter business seems to grow while what the resort is bringing to the table seems to diminish.
No buffet which I believe is a real HUGE mistake.
No Tiered Players card and therefore, no special players lounge, exclusive lines, etc. for higher tiers and worse of all, no free parking.
No Horseracing Simulcast betting, even though off track betting parlors called Favorites are a huge hit in NJ and NJ voters approved future sports betting.
No direct casino entrance on the boardwalk.
Will be interesting to see if smoking will be allowed on the walkways from the boardwalk to the resort's entrance which will become a giant ashtray.
Regular video poker players do not seem impressed with Revel's poker slots so will keep playing at their current home base casinos.
Results:
Most Borgata Black Label Players will be staying Black Label.
Most CET Diamond will be staying Diamond and can always get upgraded to Borgata Black Label.
Most CET Platinum will stay Platinum for the free parking at Showboat (or Total Rewards bus to Showboat) and play at CET casinos for free buffet coupons.
For lower AC rollers, The Atlantic Club may be a diamond in the rough as well as the Gold Nugget. Both have been making some attractive changes.
Revel's timing would have been perfect to pick up the disgruntled CET Diamond players dropped football but instead of picking up the CET dropped ball like The Borgata did, Revel decided to let The Borgata continue to score touchdown after touchdown.
The Borgata will remain the only profitable casino in AC.
About the only thing Revel may do better than The Borgata is perhaps music selection. The Borgata continues to play some of the worse music soundtracks I have ever heard.
ETA: More info as updates are reported
Something positive! Revel has some free stuff to do while sitting around like games, reading, and puzzles. Wonder how they will keep the invasion of kids under control? Actually, they have already made it clear the resort is not for kids and kids are not allowed in the sitting areas.
Revel Parking is like a municipal lot where you pay a machine to get a ticket before you leave. Also have to remember to get the extra receipt for same day parking at other parking lots from the machine.
Player card signup is not offering an initial bonus download or any other type of bonus which all other casinos have always done.
Revel supposedly still has rooms available even for their first weekend even though only 500 rooms were up for grabs for their *soft* opening. Their policy of having to book both nights on a weekend may be greatly hurting them.
Plus no truly comped rooms!! Players can pay for the room with their earned comped dollars but the rooms will not be *free*.
Another mistake Revel made is ignoring potential bus business. It is day trippers and bus commuters that have kept ShowBoat in business.
So folks have fewer transportation choices to and from Revel:
drive and pay for parking
or take a jitney/cab
or walk a bit more outside from the boardwalk
(note: The stairs leading to the entrance closest to the boardwalk is past the center of the complex when walking from Showboat)
from whatever boardwalk hotel provided free parking or transportation and will therefore, continue to receive play to keep the free parking, comped room, free buffet, etc.
Showboat gave up its view to the Revel behemoth but in return Showboat will have lots of hungry customers eating, parking, staying and most importantly, playing there.
ETA:
Here are my own direct impressions:
Walkway from boardwalk was tricky to find but found it.
HATE the long escalator into the casino which is a real safety hazard.
Most penny slots had higher minimums than I prefer
and seemed pretty tight.
Casino was much darker inside than expected.
Music was too loud and not any better than Borgata's
(much prefer Showboat and Caesars music)
Place felt cold, uninviting, and liveless.
Very confusing layout.
Hard to find bathrooms, etc.
No mobile phone signal inside Revel
Good thing it was empty enough for my husband and I to find one another without our phones!
Not fun to visit at all like the Taj or Wildwest when first opened.
Very glad they didn't offer upgrades or gambling incentives so I do not have to return!
Overall, felt like a large racino.
Speaking of racinos, too bad our governor didn't pump the tax dollars into NJ's racetracks instead.
Predictions ....
It will feel more like a ghost town than the CET AC Diamond Lounges off season and will have trouble paying its utility bills. Lots of huge areas needing heating and cooling. The bonds providing the finances to finish its construction will never be paid. It is supposed to be like a cruise ship but on land without interesting ports to visit. Last I checked cruise ships had food and shows included and most had buffets.
What is really sad is that Revel's failure will be blamed on its *No Smoking* policy instead of all of their other terrible decisions.
Sunday, February 19, 2012
Revel Resort AC, mostly expect Rants
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.
Saturday, October 8, 2011
Revel Resort, The future of Atlantic City?
In May 2012, The Revel will finally be open for business. Meanwhile CET has decimated their AC business after being the only real game in town other than The Borgata.
The only advantage CET had over The Borgata was its nonAC properties and 4 different properties in AC all being a part of the same Total Rewards system. Revel will have the same disadvantage as The Borgata in being a single AC only property. Cannot imagine gamblers from all over flocking consistently to the Revel as they do to CET properties, especially in Vegas. Oh Revel will be very busy its first summer as was the Trump's Taj when it first opened BUT will it make the generous offers necessary to attract gamblers the rest of the year?
There is no guarantee that the Revel marketing will be able to compete with The Borgata as far as comps for the consistent AC gambler. Who expected CET in AC to make so many poor business decisions within the year of The Revel's opening? Guess Revel cannot make as many bad decisions as CET but can they make as many good decisions as The Borgata? Only time will tell. Being a NJ taxpayer and owning 20% of the Revel's revenues, I sure hope the Revel is a huge success. However, unfortunately, I believe The Borgata will be the last AC casino still standing when the duel is over and the dust settles. Too bad our governor didn't invest in our racetracks instead and convert them to racinos which seem to be doing incredible business in PA, DE, etc. Heck even the NJ off track betting parlours called Favorites have been a huge success without slot machines!
ETA: Sadly just heard another bad decision by CET. Sunday is the last day for Harrahs Reflections restaurant. Breakfast will become available at their buffet which is overpriced or Bill's Burgers. Think we have spent more comp at Reflections than any other CET restaurant so we will miss it, even though most of our comp is gone. At the same time, I have heard complaints of way less comped buffet offers from folks who gamble alot more than we do. Looks like we will pretty much be eating all of our meals at The Borgata. About the only decent lunch option for cash at Harrahs will be McCormicks $10 lunch menu.
Sammy D's which took Reflections place doesn't seem to be doing nearly as much business as Reflections did. Food is ok with huge portions but those portions cost 200% more than smaller portions could have charged. An average breakfast for two, including juice and coffee could cost close to $50!
