Posts Tagged ‘hotel’


Saturday, August 11th, 2012

This is not “Real Estate Corner” and I’m no real estate maven, but I don’t do badly in the common sense sweepstakes.

And common sense tells me that if real estate experts want to build some kind of facility and attract big spenders, THEY SHOULDN’T BUILD IT IN A SLUM AREA.

And if they do, because market researchers said they should, THE SLUM AREA SHOULD BE CLEANED UP FIRST.

From what I’ve seen, the two-plus billion dollar hotel/casino chose not to clean up their own neighborhood, as abandoned, burned-out and decaying homes still stand just yards away from the new facility.

See, the Revel may be great inside. Getting to it, however, is anything but inviting.

And what brilliant mind determined that Atlantic City needed yet another casino?

The fact is, according to the Philadelphia Inquirer’s Suzette Parmley–who does a marvelous job covering the casino beat–Revel’s brief time in the sun may be coming to a quick end. Their July numbers, totalling $17 million and change, was far below what is needed and what was expected. Market leader Borgata, for example, led the pack with $54 million.

$17 million in July? The Down Beach Deli did better.

Given the short time the place has been open, it’s astounding that Parmley’s story should mention bankruptcy as a possibility. “The threat of an early bankruptcy has increased,” according to industry observers and gaming analysts, reported Parmley.

I’m no Criswell, either (remember him?), but from the first time I saw this place and where it was, I knew they were headed for trouble. I wrote about it and contacted–more than once–the powers that be about what I thought the problem was and how I thought it could be solved.

It wasn’t surprising that I was ignored.

Perhaps it’s not too late for them to use some common sense: If you spend billions to build in a slum, why not spend a few bucks to clean up the slum first?

In the meantime, I’d suggest to Barry Manilow, who’s booked at the Revel on September 8, that he get cash up front.

Better yet, why not book Phil Woods instead?