Norton said Revel was hurt by many factors, including the decision not to build a second hotel tower when the project ran out of money halfway through construction. He also specifically absolved former CEO Kevin DeSanctis of responsibility for its problems. DeSanctis is staying with a corporate affiliate to work on amenity projects for the resort."The substantial construction cost of Revel, the loss of 1,900 of their rooms, the general collapse of the economy, the U.S. unemployment problem and new gaming options in Pennsylvania and New York â¿¿ all causing a 40 percent decline in casino revenues â¿¿ are the primary reasons for Revel's failure, not Kevin DeSanctis," Norton said. "And without him, the property would still be an empty shell like Boyd's Echelon Place or the Fontainebleau, on the Vegas Strip."
NJ Revel Casino Files For Bankruptcy
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