Revel announces first profitable week, layoffs

 (AP Photo/Wayne Parry)

(AP Photo/Wayne Parry)

Atlantic City’s Revel casino just had its first profitable week since its opening last year.

But the casino is still undergoing a tumultuous restructuring.

In the same announcement that Revel shared the news about its rewarding first week of July, the company announced that it would lay off 75 of its more than 3,500 workers.

Revel’s interim CEO, Scott Kreeger, acknowledged in a statement that the layoffs resulted from lowered expectations.

“The Revel organizational structure was established to support a level of revenues that have not been achieved over the 15 months of operation,” Kreeger said.

Revel lost $150 million in its first year.

Originally billed as more resort than casino, Revel now is concentrating more on marketing to gamblers, with special deals for players and allowing smoking indoors — just like the competing casinos along the boardwalk.

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