Revel Gets a Second Chance in 2013 [AUDIO]
Atlantic City's newest casino did not experience the 2012 it was expecting, but the new year brings plenty of opportunity for a turnaround.
Revel opened in April and has since ranked among the bottom of the city's 12 casinos each month when looking at revenue taken from gamblers. Casino executives have said Revel depends more on other revenue, like hotel bookings, than other Atlantic City gaming halls.
The multi-billion dollar resort entered the market with a solid business model, essentially split into four parts - the leisure traveler, the group traveler, walk-ins and the gambler. However, according to Dr. Israel Posner with the Lloyd D. Levinson Institute of Gaming, Hospitality & Tourism at the Richard Stockton College of New Jersey, Revel's marketing effort toward "the gambler" was not implemented as strongly as its other business model sectors.
"What I think you're going to see in 2013 is a turbo-charged enhancement of the marketing campaign implementation focusing on the gambling customers," Posner said. "In particular, you'll see a focus on new amenities that are attractive to the Asian market."
Last week, Revel launched a new rewards program that "takes gaming to the next level." Guests can earn resort dollars property-wide, and enjoy free Wi-Fi and complimentary offers just for playing, staying or partying at Revel.
Posner noted, though, succeeding as a new Atlantic City casino is not as simple as it used to be. With the overload of competition in neighboring states, the aforementioned business model is a must. Revel has framed itself as the "complete resort experience." That experience could get a major boost with Revel Beach scheduled to open later this year.
"2013 is going to be an important year, but so will 2014 and 2015," Posner said. "The first several years of the business will be important for setting the stage in how the consumer views this resort."
Atlantic City has been struggling for the past few years, but the resort town still represents a significant piece of the economy in south Jersey and the entire state. Atlantic City is home to approximately 35,000 residents; the city employs more than 30,000 people in its casino industry.