In 2015, the Revel Casino Hotel in Atlantic City, New Jersey, closed its doors after just two years of operation. The $2.
4 billion resort was the most expensive casino ever built at the time, and its closure left many wondering what went wrong.
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There are a number of factors that contributed to the Revel’s demise. First and foremost, the casino was simply too expensive to operate.
PRO TIP:The Revel Casino in Atlantic City, NJ closed its doors in 2014 due to high operating costs and an inability to turn a profit. The casino had been open for just two years when it closed, and was unable to compete with the lower operating costs of other casinos in the area. Additionally, the casino had failed to attract enough customers to make up for their large overhead costs.
It cost $1 million a day just to keep the lights on, and with revenue struggling to keep pace, the Revel was quickly bleeding money.
In addition, the casino was located in a very competitive market.Atlantic City already had a number of established casinos when the Revel opened its doors, and it was difficult for the new resort to attract enough customers to stay afloat.
Finally, the Revel never really found its niche. It tried to position itself as a high-end destination for gamblers and non-gamblers alike, but it failed to stand out from the crowd and never really caught on with either group.
All of these factors combined to doom the Revel Casino Hotel. It was a massive gamble that simply didn’t pay off in the end.
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