atlantic city's revel casino reopening as what

His plans for the site also include an extreme sports complex, two marinas, a world-class equestrian complex, water parks, universities and high-speed ferries and helicopter service connecting to Manhattan. He plans to develop the former Bader Field airport site, which closed in 2006, and re-open part of it as an aviation facility. Dubbed 'Project Phoenix,' it includes the purchase of the Showboat, a shuttered casino next to Revel that he bought on Friday and plans to lease to Stockton University as a satellite campus once legal complications regarding the property are resolved. Colorado developer Bruce Deifik bought Revel in January and set about remaking the property.

The announcement came on the sixth anniversary of the opening of Revel. The Boardwalk property said Monday it's affiliating with the Hyatt hotel chain. Straub last week unveiled an ambitious plan to spend $500-million on numerous projects in Atlantic City over the next three years. (AP) Atlantic City's former Revel casino is moving toward its reincarnation as the Ocean Resort Casino. 'Sometimes we were more optimistic than others. 'I always believed it was going to sell, and I was 75 per cent sure it was going to be to us,' said attorney Stuart Moskovitz, who represented Straub as he pursued the casino in bankruptcy court. Straub paid about 4 cents on the dollar for the casino it was one of four of the city's 12 casinos to go out of business last year, eliminating a combined 8,000 jobs. It also started at a huge disadvantage by not having a pre-existing database of gamblers to solicit, in the way that casinos owned by nationwide companies like Caesars Entertainment or Tropicana Entertainment can.The deal was finalized after four prior attempts to sell it fell through.

At the same time, Revel didn't have a plan to successfully market to the traditional Atlantic City customer.' But the market that Revel foresaw for its property just didn't materialize, partially because of the growing perception that the city wasn't ready for that kind of customer. 'That's certainly what happened with Borgata more than 10 years ago. 'If there had been a range of new attractions and potential customers with enough discretionary income, I think that Atlantic City could have absorbed the new capacity,' said David Schwartz, director of the Center for Gaming Research at the University of Nevada Las Vegas.

High room and restaurant prices hurt, too. By the time those decisions were reversed, it was already too late. That included Atlantic City's only total smoking ban, which alienated many gamblers the lack of a buffet and daily bus trips to and from the casino and the absence of a players' club. The idea behind Revel was to open a totally different resort, a seaside pleasure palace that just happened to have a casino as one of its features. Speaking of bands, the real wildcard in Ocean Resort’s entertainment scene will be the renovation and eventual reopening of Ovation Hall, a 5,500-seat and beautiful arena venue that brought.

Atlantic city's revel casino reopening as what