\nDown on its luck: Revel jobs, revenue falling below projections<\/p>\n
\tNJ Star Ledger<\/p>\n
\tNote the following quotes from the article:<\/p>\n
The shiny $2.4 billion resort, acclaimed for its beauty and amenities, is on pace to take in $200 million in gaming revenue during its first 12 months of operation, according to a Star-Ledger analysis of records filed with the Economic Development Authority and the state Division of Gaming Enforcement.<\/p>\n
\tThat would mean Revel will fall roughly $360 million short of what the Christie administration banked on when it agreed to help salvage the project last year.<\/p>\n
\tComparatively, the highest-grossing casino in the city, Borgata Hotel Casino and Spa, took in $651 million in gaming revenue last year, according to annual revenue figures compiled by Gaming Enforcement.<\/p><\/blockquote>\n
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Revel may not want to build its long-term business on the slot market, but it will need to ramp it up anyway to find its financial footing in the short term, Kempf said.<\/p>\n
\t"The slot customers have loyalty to their casinos. They want amenities. They want free play. They’re not interested in high-cost restaurants," Kempf added.<\/p><\/blockquote>\n