Posts tagged with "Atlantic City":

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Jersey City learns from Las Vegas with this 90-story waterfront casino tower proposal

If a billionaire New Jersey investor gets his way, it will be a lot harder for lazy headline writers to call Jersey City the “New Brooklyn.” That's because wealthy person Paul Fireman wants to bestow upon the city a very non-artisanal $4 billion sky-scraping casino and resort complex. The Wall Street Journal reported that the massive project includes a "90-story hotel, 14 restaurants, a theater and a complex of pools on a 200-acre site.” It is being called "Liberty Rising," which sounds more like a Hollywood blockbuster or covert military operation than a mixed-use development, but, hey, what can you do. For "Liberty Rising" to actually, well, rise, New Jersey lawmakers will need to pass a referendum to expand gambling into the northern part of the state. The Journal reported that Garden State lawmakers are split on when to bring up the referendum, and how new gambling revenue would be spent. It seems that a portion of the revenue would go toward boosting Atlantic City's tourist economy. (This would be a good time to mention that at the end of last summer four of Atlantic City’s 12 casinos had closed, costing 8,000 people their jobs. ) If New Jersey voters ultimately vote in favor of the plan, then Liberty Rising, and other projects like it, could take shape just outside of New York City. This specific project was designed by the Las Vegas–based Friedmutter Group Architects and, expectedly, has a Las Vegas vibe going for it. The complex rises from a multi-tiered podium that is topped with waterfalls, pools, and green space. Below, there's a place to park your yacht. Along one of the two glass towers appears to be landscape terraces that jut out of the main structure. Liberty Rising is obviously a massive project, but just one of the many new developments reshaping Jersey City. As AN reported last year, the city is taking advantage of its close proximity to Manhattan and trying to entice New Yorkers being priced out of the five boroughs with new residential buildings—many of them rising to supertall heights.
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How the bankrupt $2.4 billion Revel Casino lost another $21,000

News recently broke that the $2.4 billion Revel Casino in Atlantic city would be closing just two-and-a-half years after it opened. It's been a rough week for the casino and a new report from the Press of Atlantic City manages to make things even worse. According to the publication, earlier this month, when armored cars were removing cash from the casino, a bag containing $21,000 in currency was left on top of one of the vehicles. When the car drove off, the bag (obviously) fell off, and nobody has seen it since. Crunching the numbers, that puts Revel back approximately $2,400,021,000—which equals a ton of money.
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Was The Revel Casino’s Design Its Fatal Flaw?

Two years ago, AN visited the newly-opened Revel Casino in Atlantic City. At the time, the glassy $2.4 billion complex, designed by Arquitectonica and BLT Architects, was expected to be a transformative property for the iconic boardwalk that offered gambling, convention space, and entertainment. "It's more of an urban development plan than a typical casino plan," Revel CEO Kevin DeSanctis told AN. "I am really hoping that we are successful." In mid-August, we learned that they were not. In its short two-and-a-half year lifespan, the casino never turned a profit. The casino's parent company recently  announced that they weren't able to find a buyer for the bankrupt complex and that Revel's last day would be September 10th. That date has already been moved up—the hotel will now close on September 1st, Labor Day. The casino will close the day after, which will put over 3,000 people out of work. Revel's huge cost, and its very short lifespan, has unsurprisingly received lots of attention, but its closing is just the latest sign of trouble in Atlantic City—the Showboat will close on August 31st, Trump Plaza calls it quits on September 16th, and the Atlantic Club shuttered in January. These closings reflect Atlantic City's challenge to stay relevant amongst more competition. The Philadelphia Inquirer recently noted that Atlantic City, which had been the nation's second-largest gambling market ranking just behind Nevada, has now fallen behind Pennsylvania. But in terms of Revel, specifically, its design may have been its fatal flaw. “The enormous cost of the property, its vast size and its peculiar configuration—patrons had to ride a steep escalator from the lobby to get to the casino, the 57-story hotel and the restaurants—made it difficult to turn a profit,” reported the New York Times. These sentiments were echoed by industry experts who spoke to the Inquirer in June. They mentioned the "long distance between the casino floor and the hotel's front desk, a casino floor that fails to engage gamblers, and vast empty spaces that make Revel expensive to heat and cool." And Alan R. Woinski, chief executive of Gaming USA Corp, pulled no punches when describing his thoughts on the property. "The best thing that could have happened to that property is Hurricane Sandy, instead of nailing Seaside Heights, would have nailed that property. That thing should have wound up in the ocean instead of the roller coaster," he told the publication. "It's sad, but unfortunately that was the only way, to completely knock the thing down and redo it."
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PRODUCT> Boardwalk Bench Uses NY’s History To Fund Its Future

For the Boardwalk Bench, the latest addition to its product line, Forms+Surfaces sourced 142-year-old reclaimed FSC-certified Cumaru hardwood from the original slats of the Atlantic City Boardwalk. The naturally oiled slats are arranged in an asymmetrical pattern to salvage as much wood as possible while trimming imperfections. Right now all proceeds from the sales of the Boardwalk Bench go to the Red Cross for Sandy relief efforts.

AN Video> Revel CEO DeSanctis Talks Change in Atlantic City

The new Revel casino in Atlantic City may prove to be an influential model, merging entertainment with gambling and convention center facilities. Bellied up against the Atlantic City boardwalk, Revel's designers—Arquitectonica with BLT Architects—paid special attention to how the facility interacts with its surroundings. Revel features acres of interior spaces designed by more than 65 design firms showcasing a dizzying array of finishes, from polished chrome columns to a 100-foot gold-flecked mobile. AN recently visited the oceanside casino and spoke with Revel CEO Kevin DeSanctis about what makes the building different from other casinos and why Atlantic City needs the change.