Open Enrollment | Subscribe to Target Marketing HERE
Connect
Follow us on
Advertisement
 

Denny's Daily Zinger: Revel Casino - A $2.4 Billion Oops.

August 20, 2014 By Denny Hatch
Get the Flash Player to see this rotator.
 
In 2010, we spent 4 days in Atlantic City.

Near where we were staying was a monstrous gleaming glass tower under construction, currently in temporary bankruptcy.

This was the Revel hotel and casino with 1,400 rooms.

It opened April 2, 2012.

Revel is again bankrupt and will close in September along with three other casinos.

The Backstory
By the 1970s Atlantic City was a slum.

Casinos came in 1976 and did well. They provided the only gaming action from New York south to Washington, D.C.

In return for the licenses to open, the casino moguls promised to invest in Atlantic City, turning it into a Las Vegas East.

They lied. All profits left Atlantic City for elsewhere in the world.

Atlantic City is still a slum.

In recent years, myriad casinos opened in New York, Pennsylvania and Delaware, siphoning off customers and picking Atlantic City's pocket.

And in the middle of this dying slum, Morgan Stanley, hedge funds and Governor Chris Christie financed and built a 57-story tower costing $2.4 billion.

Revel is hermetically sealed tinted glass, denying visitors all the natural glories of the Jersey Shore—sun, cooling sea breezes, the wonderful smell of salt water and the soothing sound of the ocean.

On August 7, the Revel auction was canceled for lack of interest.

Takeaways to Consider

  • I have spent 50 years in direct marketing. It is a business where everything-everything-is tested.
  • To paraphrase Johnnie Cochran, O.J. Simpson's lawyer: "If you can't test, don't invest."

Denny Hatch's new book is "Write Everything Right!" Robin Perron writes, "***** Five Stars. 'Write Everything Right!' is a great resource for anyone who uses writing in their lives, because he talks about all forms of writing from emails to articles and memos. The goal is for everyone to write in a way that makes it easier for the reader to read it than to ignore it." Click here to download (opens as a PDF) and read the first three chapters FREE. The title is also available on Kindle. Reach Denny at dennyhatch@yahoo.com.

 

SPONSORED CONTENT

MORE ON MARKETING STRATEGY >>

FROM THE BOOKSTORE

A guide to delivering a better user experience through A/B testing: Offers best practices and lessons learned from over 100,000 experiments run by over 2,000 Optimizely customersDetails a roadmap for how to use A/B testing to personalize your customer's web experience and a practical guide to start A/B testing todayAuthors Dan Siroker and Pete Koomen are cofounders of Optimizely.com, an user-friendly testing system that more than 2,000 organizations use A/B Testing: The Most Powerful Way to Turn Clicks Into Customers

A guide to delivering a better user experience through A/B testing:
Offers best practices and lessons learned from over 100,000 experiments run by over 2,000 Optimizely customersDetails a roadmap for how to use A/B testing to personalize your customer's web experience and a practical guide to start A/B testing todayAuthors Dan...

ORDER NOW

The Metadata Handbook is the first guidebook for book publishers outlining how metadata for books operates in the real world. Topics covered include: How metadata for books operates in the real world Metadata fundamentals & the history of metadata for books Standards and best practices for creating and distributing accurate and comprehensive metadata The basics of ONIX for Books, including ONIX 3.0 The basics of EPUB 3 metadata options The latest metadata trends, including metadata for self-publishers.Would you prefer to
purchase this title as a PDF? Click here. Metadata Handbook

The Metadata Handbook is the first guidebook for book publishers outlining how metadata for books operates in the real world. Topics covered include: How metadata for books operates in the real world Metadata fundamentals & the history of metadata for books Standards and best practices for creating and distributing accurate...

ORDER NOW

 

COMMENTS

Click here to leave a comment...
Comment *
Most Recent Comments: