Revel Casino Rendering

 

Sources very close to the Atlantic City casino, REVEL,  say they expect to sign a financing deal on or around February 15. This is GREAT news for Atlantic City and the immediate area.

 

The Atlantic City market, relative to the Ventnor, Margate, Longport & Brigantine markets, has definitely been affected most negatively these last few years since the market is predominantly investor driven. Once construction stopped on Revel Casino (located in the North Beach area of Atlantic City on the boardwalk behind the Bella Condominiums), all investors seemed to just stop putting their money into Atlantic City and market prices fell dramatically.

I have often said that once REVEL construction commences again, things in Atlantic City will turn around. REVEL will be the catalyst to getting the market moving again and having investors put their money back into Atlantic City.  Of course gaining financing for finishing the Casino is part of Governor Christie’s plan to help revitalize the city.  

Let’s hope this financing deal gets signed and we will see Atlantic City prosper and flourish.  It has so much potential and unlike Las Vegas, it is easy to get to by car by 1/3 the nation’s wealth and lets not forget the beautiful beaches.  It is truly a destination location, not just a casino town. 

To read additional information about the financing deal, go to NBC News Channel 40 website.

Sherri Lilienfeld, REALTOR Associate, Prudential Fox & Roach Realtors, 9218 Ventnor Avenue, Margate, NJ  08402. (609) 287-1795, Sherri@NJ-ShoreRealEstate.com