Revel, Half Baked On The Back Burner
If you've been watching Revel's construction slowly progress skyward as its curtain wall is being attached, don't fool yourself into believing that CEO Kevin DeSanctis and his team are talking opening dates any time soon.
In an interview with Philly.com DeSanctis says that the plan for Revel over the next few years is to completely finish the exterior, rendering the project looking "complete from the outside."
Fitting the interiors has been postponed until the company can arrange funding to complete the project. When financing has been secured, it will take up to 16 months to finish its casino/restaurants and hotel rooms.
Chances are, we'll probably hear rumblings from resurrected MGM Grand AC, Bader Field projects or other AC casino acquisitions or redevelopments before Revel can get the cash it needs to get 'er done.
We don't expect anything to happen too quickly," DeSanctis said. "The bigger companies with very strong credit normally start the process. As the system starts to open up, it opens up credit to a broader universe.
So... 16 months from never is when?
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