Having secured $1.15 billion in fresh financing, Revel Entertainment Group has resumed construction of Revel, a beachfront entertainment resort that's expected to open in mid-2012 in Atlantic City, N.J., it recently announced.
"We are delighted to be moving toward completion of Revel, which will have broad positive employment and economic implications for Atlantic City and the state of New Jersey," said Revel Entertainment Chairman and CEO Kevin DeSanctis. "Re-starting the project immediately puts 2,100 construction craftsmen and craftswomen back to work and will result in full-time employment for approximately 5,500 people."
Revel ceased working on its Atlantic City project in spring 2009, citing the recession and the collapse of the credit market. It decided to revive the dormant resort when Gov. Chris Christie announced his plans to revitalized Atlantic City tourism.
"We are grateful to Gov. Christie for his commitment to Atlantic City and his initiatives to attract investment and revitalize the market," DeSanctis said.
Upon completion, Revel will total 6.3 million square feet of entertainment, dining, retail, relaxation and gaming. It will include 1,898 hotel rooms, a 150,000-square-foot casino, 75,000 square feet of retail space, a 22,000-square-foot spa, 12 restaurants, a 5,500-seat event center and 160,000 square feet of convention space. For more information, visit www.revelinac.com.