eye-3-yellow-3d-2-new-logo philly_kyw_new philly_94wip_new 35h_cbssportsrad_philly philly_wpht_new

Local

Revel Casino Building Now Faces An Uncertain Future

View Comments
(Credit: Spencer Platt/Getty Images)

(Credit: Spencer Platt/Getty Images)

Tim Jimenez Tim Jimenez
Tim Jimenez is a general assignment reporter at KYW Newsradio...
Read More

Get Breaking News First

Receive News, Politics, and Entertainment Headlines Each Morning.
Sign Up

By Tim Jimenez

ATLANTIC CITY, N.J. (CBS) — With Revel Casino in Atlantic City slated to close next month, the $2 billion dollar property faces an uncertain future.

Stockton College professor Dr. Israel Posner wasn’t surprised with Revel’s announcement.

“Anybody that knows that property knows it’s a magnificent property, but the business simply didn’t work as a casino resort,” he said.

Posner says Revel, now a casino resort, could in the future be a multi-purpose venture.

“Not necessarily hospitality use, but a much broader commercial type of use that is mixed between or among residents, office suites, retail and restaurants,” Posner said.

Posner says there’s a lot a possible operator can build on. “About a dozen restaurants, space for 30 retail shops, lots of group meeting space, tremendous amount of public space, a tremendous nightclub,” he said.

And despite casino closures, Posner says Atlantic City is still a destination that draws 25 million visitors a year.

Top Content On CBSPhilly

View Comments
Follow

Get every new post delivered to your Inbox.

Join 31,893 other followers