Revel Atlantic City Rebranded As “TEN”

Revel Atlantic City may have cost $2.4 billion to build when it opened in 2012, but after falling into bankruptcy twice and shutting in September 2014, it was subsequently sold last year to Glenn Straub’s Polo North Country Club for just $82 million. However, the beleaguered property is expecting a new lease of life when it reopens in March of 2017, and furthermore it will have a rebranded name to help with its relaunch, TEN.
The team handling the relaunched property includes TEN CEO Robert Landino, and Alan Greenstein, who previously served as the CFO for Revel Entertainment Group. Commenting on his return to the venue, Greenstein explained:
“I am keenly aware of what systems and strategic business processes are needed to make TEN a success internally and externally. I know what works and what did not, and would not have returned if not for TEN’s strong forecasted financial model and all-star executive team.”
Greenstein also described the property as the “most spectacular resort” that he has ever seen, and few would argue with him on that point. When TEN opens next year, the 47-story building will feature 1,399 hotel guest rooms, 3 nightclubs, 13 restaurants, 5 swimming pools, as well as a 130,000 square feet casino area. However, Straub has yet to receive a casino license from the New Jersey Casino Control Commission.
The industry will now be awaiting with great interest to see how TEN fares after its relaunch. In 2014, Revel was one of four Atlantic CIty casinos to shut shop that year, and the Trump Taj Mahal is expected to follow suit on October 10th of this year. While the Showboat reopened on July 8, 2016, it now operates as a non-casino hotel, making TEN the first casino business to relaunch in Atlantic City. Expressing his optimism for TEN’s success going forward, Greenstein stated:
“TEN is a Las Vegas-quality resort directly on the beach. The name will get you in the door. The experience will keep you coming back.”