$2.4B Bet

Enough to boost Atlantic City?

ATLANTIC City will soon be welcoming a non-smoking, $2.4 billion casino resort, which has dubbed itself as the savior of the hotspot. It’s hoped that the public opening on April 2 will revive the city and boost the tourism factor.

According to the nj.com site, a common misconception, CEO Kevin DeSanctis says, is that the $261.4 million state tax reimbursement approved last year is just going to fall into his pockets. Rather, $125 million of that is expected to be redirected to funds for renovating the surrounding area, particularly the South Inlet.

When it comes to the Revel’s ties to a state government agenda of reforming Atlantic City, DeSanctis says, it’s a situation he’s never been in.

“I’ve worked with governments before for legislation and things like that, but actually in terms of saying, ‘Listen, we’re really going to try to determine the future of a community?’ ”he says. “No. That’s very unique. I don’t think many people get that opportunity.”

Through substantial tax breaks, state officials have banked on the Revel’s success, hoping it can spur a comeback in a newly defined gaming district.

The advertising strategfy behind Revel has also been praised by Moffitt, specifically referring to a series of understated billboards along the Atlantic City Expressway, which leads into the city. “People get jaded with flashiness and razzmatazz,” Moffitt says. “We want to be judged on our projects, the casino and what’s in it.”