Revel revenues lag again

Gaming revenue in Atlantic City is down again, and the newest casino is not doing much to change that,

The total casino take in June was down 0.6 percent from a year ago.

For the third month in a row, Revel ranks eighth in gaming revenue among Atlantic City’s 12 casinos. It won $14.9 million from gamblers last month, a million more than May, but far below the $53 million won by the top-ranked Borgata.

Assemblyman John Burzichelli says he’s still hopeful about Revel’s future.

“The number tells you they’re alive and well. It’s just a question of how much alive they have to be to satisfy their obligations.” said Burzichelli, D-Gloucester. “I think the summer season in Atlantic City is going pretty well. As Revel continues to introduce itself to its clientele, I think those numbers are just going to continue to move upwards.”

Joe Weinert of the consulting group Spectrum Gaming says competition from casinos in nearby states continues to have an impact.

“We’re really going to be watching to see what the Atlantic City operators report for the whole summer period,” Weinert said. “The big question — ‘is Revel helping Atlantic City? Right now, I think it’s too early to tell.”

Burzichelli says the $241 million in tax credits the state gave Revel to get the resort completed was a good investment. The place has created jobs and helped stimulate the local economy, he said Tuesday.

Revel is not just about a casino but is trying to be a total resort, says Israel Posner, executive director of the Institute of Gaming, Hospitality and Tourism at Richard Stockton College.

“To attract the leisure traveler, it’s going to take a bit of time before that ramps up and shows a return,” Posner said. “At this point, it’s still too early to tell how that’s going to work out.”

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