ATLANTIC CITY — Revel, the $2.4 billion megaresort that was expected to be the city’s dominant new casino, had just $13.4 million in gambling revenue in April during its first month of operation.
Revel released its revenue figure on Wednesday, a day before the New Jersey Division of Gaming Enforcement will report April’s slot and table games winnings for the entire industry.
Revel was nowhere near Borgata Hotel Casino & Spa’s industry-leading $54 million in gambling revenue in March. Based on its April revenue, Revel will rank near the bottom of the pack for Atlantic City’s 12 casinos.
Frank J. Fahrenkopf Jr., president and chief executive officer of the American Gaming Association, expressed surprise that Revel’s revenue was so low. However, Fahrenkopf said he believes it is premature to draw any “negative conclusions” about Revel during its start-up phase.
“The opening of Revel is an exciting thing,” Fahrenkopf said.
Kevin DeSanctis, Revel’s CEO, said April served largely as a training and testing period as the casino ramps up toward its formal grand opening ceremony during the Memorial Day weekend.
“Having had the opportunity to fully develop and implement operational and technology systems was of paramount importance as we set the stage for the upcoming resort premiere on Memorial Day weekend,” DeSanctis said in a press release.