By Paul Ricciardi, Estimator and Project Manager, Madison Concrete Construction
In our August 2014 newsletter titled “Our goal: To build communities, not just buildings,” we explored not only the fate of the suddenly closed Revel Casino, but also the long-term implications of its bankruptcy and failure. The repercussions included lost jobs, lost tax revenue and seemingly lost hope for something positive happening in Atlantic City, N.J.
Revel Casino under construction in 2011. Opening in April 2012 and closing September 2014, the building was in operation less time than it took to construct it. Photo: Courtesy of Tishman Construction.
Fast-forward almost two years and more than a few court proceedings later, and the reopening of Revel (under an as-yet-unannounced new name) appears to be imminent. Florida developer Glenn Straub purchased the $2.4 billion property for a bargain price of $82 million and immediately began announcing ideas for the empty building. With some crazy and some very interesting concepts (a “ropes” fitness course is already under construction), Straub is, at the very least, injecting some much-needed creative energy and life into the hulking structure. Naturally, casino gaming will still be a large part of the property’s draw, and many of the restaurants and nightclubs that inhabited the Revel during the first go-round have expressed interest in returning.
Most important, however, is the return of jobs, revenue and even some hope to a city which, itself, is struggling near bankruptcy and fighting the specter of a government takeover by the State of New Jersey. We at Madison Concrete Construction give our sincere and best wishes for a speedy reopening and a successful future!