Revel Gets Approval for Atlantic City Resort
NOVEMBER 8, 2007. Revel Entertainment Group, LLC ("Revel" or the "Company") announced today that it received preliminary site plan approval from the City of Atlantic City Planning Board for its beachfront casino entertainment resort on twenty acres of land along the Atlantic City Boardwalk as well as certain on site circulation and other infrastructure improvements in connection with the project.
Revel's application highlighted its plan to develop a facility including two hotel towers with approximately 1,900 rooms each, 150,000 square feet of casino space and 500,000 square feet of dining, retail and entertainment space including a 5,500 seat theater, an expansive health club and spa, meeting space and an outdoor oceanfront beach on approximately one acre. The Company is in the process of determining whether both hotel towers will be completed in the first phase of construction.
Commenting on the approval, Kevin DeSanctis, Chairman and Chief Executive Officer of Revel Entertainment, said, "This is a significant regulatory step forward in commencing construction of the Company's resort entertainment casino project. Our plans are nearly complete, we expect to commence footing and foundation work shortly and believe that construction will last approximately 36 months."
The twenty acre Revel Entertainment development site is one of the largest, most uniform and contiguous properties in Atlantic City and is located at the northern end of the Boardwalk bordered by Oriental, New Jersey and Metropolitan avenues. The site features over 1,000 feet of beach frontage.
Revel Entertainment previously announced that Tishman Construction Corporation is serving as Construction Manager and that Arquitectonica has been named the design architect, BLT Architects has been named Executive Architect and Architect of Record and SOSH Architects has been named Associate Architect for the Company's Atlantic City resort development project. Pursuant to the regulations of the New Jersey Department of Environmental Protection, Land Use Regulation Program, the Company has also applied for a CAFRA (Coastal Area Facility Review Act) Permit for the project.
Preliminary artist renderings of the facility's facade and grounds are available at www.revelentertainment.com (click link for "Media Room" then "Image Library."
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