The failed Revel Casino at the north end of Atlantic City’s boardwalk has undergone a total re-branding of its image. The new group is calling it TEN.
What the New Name Represents
The new TEN brand represents “perseverance”. The new logo for the casino-hotel resort features an infinity symbol under its name, and they have even launched a new website over at TENacnj.com. Glenn Straub had purchased the property for $82 million in 2015 at a 96% discount from the original $2.4 billion it cost to develop Revel Casino which launched back in 2012, with plans to redevelop the failed casino-hotel.
Recently Straub told Forbes, “Atlantic City is a perfect place to put money. It’s going to multiply ten times what it’s now worth.” But a series of setbacks have prevented him from being able to reopen the new casino-hotel resort. Straub told the Press of Atlantic City, “I can’t believe how much bureaucracy there is in this state.” The property developer has been frustratingly waiting for approval by the Casino Reinvestment Development Authority (CRDA) and Division of Gaming Enforcement (DGE) to operate the casino, and the process has been going on for months.
In a recent interview, Straub said he had signed a 25-year lease which is said to be worth millions of dollars, and the team had paid $22,000 for the re-branding. According to branding experts who spoke about the future of Revel Casino, it doesn’t really matter what the new Revel establishment is called, what matters the most for its long term success is how the new casino is marketed.
Atlantic City’s TEN – Planned 2017 Opening
The new casino is scheduled to reopen by March 2017 pending approval from New Jersey regulators, but remember not to call it “Revel Casino”, it is now “TEN”.
Even with the re-branding, Bob Labanara, who is a spokesperson for the new team, said they will keep the Revel ball atop the casino. It had cost $2 million to develop the ball a.k.a. “the pearl”, which has 250,000 programmable LEDs that can be seen for miles from the Atlantic City boardwalk. They can be programmed in lots of different ways to show solid colors or patterns.