Revel’s first report card

It’s time for the monthly casino gaming revenue results again, and all eyes are looking at Revel, the $2.4 billion mega casino/resort complex that opened on April 2. 

The news isn’t exactly spectacular. Last month, Revel brought in $15.3 million in gaming revenue. That’s eighth out of all Atlantic City casinos (the top gaming revenue earner was the Borgata with nearly $34 million, and the lowest was the Atlantic Club, formerly the Atlantic City Hilton, with just over $7 million). Across the board in Atlantic City, gaming revenues are down 10 percent from the same time last year. 

But! This is not a reason to panic. Revel is still in it’s eight-week preview run, and everything wasn’t open in April.

The grand opening is next weekend. It’s premature to make a call about Revel based on one month of gambling revenues when it’s not completely open. These numbers also don’t take into account everything else from which they make money: hotel rooms, restaurants, bars, spa, etc. (though it’s looking like HQ, their four-level night club, won’t be open for Memorial Day weekend).

The buzz hasn’t dropped yet either, especially leading up to next weekend’s official opening and Beyonce concerts, of which there will now be four versus the originally announced three.

Most people I know who love Atlantic City won’t be down until the summer, and first stop on their list? Checking out Revel.