Atlantic City New Jersey has been in a slump for almost three years. The economy zapped its customer base. Sadly, though, that is not all. Atlantic City just isn’t the casino hotel town it used to be. The famous boardwalk and its glitzy casinos are deteriorating not only on the surface, but with their customers. Now that Pennsylvania has expanded its gambling laws so that casinos can host table games and New York City, Atlantic City’s biggest feeder market, is on the verge of getting its own casino, there does not seem to be much hope for Atlantic City. There are some entrepreneurs out there that feel the city still has some life. All they have to do is keep pumping blood to it,and by blood I mean money.

Money brings new casino and casino hotel venues to Atlantic City. One of the most watched projects is the Las Vegas style Revel Hotel and Casino. The mammoth project has seen some financial woes, but the exterior is close to completion. The bad news is, one of the major investors is trying to pull out of the project. Wall Street giant Morgan Stanley has invested $1.2 million in Revel, but now they want to sell their stake in the project.

The Revel Hotel and Casino Chief Executive Officer, Kevin DeSanctis, optimistically believes he can keep the project going. Speaking to reporters at the East Coast Gaming Conference, he announced he wanted to be a bidder and buy out his former partner. “It’s a natural. I’m the most logical person, if you will.” He told reporters that he has been working on the casino project for over three years, and he was not ready to give up. He feels that Revel is instrumental to bringing restoring Atlantic City to its former glory. He strongly suggested that anyone who saw Revel from the outside would realize that the inside would be just as impressive. the interior of the project has yet to be started.

Tags: casino, gambling, online