The $2-billion casino of the Reveal Entertainment Group might probably sweep out several tiny businesses in Atlantic City, per analyst reports.
The casino businesses in Atlantic City are already being crushed off their glamour due to the competition from the slot machines in Pennsylvania, the downtrends in economy, and the peer competition in Atlantic City. Now, with the coming of the giant 2-billion dollar competitor things are going to be worse indeed for tiny businesses.
Though it is going to be the end of the day for several small businesses, analysts are of the opinion that it is okay to sacrifice tiny destinations if it will add to the betterment of famed high profile businesses.
The Revel Entertainment will consist of 1900 rooms in 150,000 square feet. There were a lot of rumors about the fact that the Revel has ceased construction due to the economic downturn and loss of hope in the industry forever and that is not really true.
Analyst’s are of the opinion that Atlantic City should be preserved in its identity, which can be accomplished if political leaders would bring in reforms in legislature thereby providing with tax incentives for re-development projects.
Political intervention is indeed important to preserve the casino culture of the city and this can be accomplished only of the leaders exhibit their management skills before the treasury goes dry.
The financial deficiency is likely to prolong the completion of the project until 2011. When the project is completed it will definitely be the state of art gambling destination.