Will The Revel In Atlantic City Prove a New Business Model?

As business in Atlantic City casinos continues to fall at a record pace and unemployment continues to rise, Revel Entertainment, LLC is building a new multi-billion dollar casino and resort.

However, the new project will not only concentrate on gambling as a source of revenue but will look to differentiate itself by selling an experience.

Atlantic City casinos have been hard hit financially by the economic downturn.  But, to add insult to injury, the casinos in Atlantic City are also dealing with a rising number of “slot parlors” in neighboring towns that are cutting into its revenue.

Slots have been a major source of revenue in the past but increasing numbers of potential travelers are staying close by to do their gaming.

The new project that is now underway from Revel Entertainment will take a new market position that offers visitors not just gambling but a whole resort and spa experience that can’t be found in a slot parlor.

Business at Atlantic City’s 11 casinos is falling at a record pace. Aggregate revenue plunged 19.2 per cent in February from a year earlier–the sharpest decline in 30 years.

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