Revel Casino Announces Layoffs

Monday, Jul 15, 2013  |  Updated 7:16 PM EDT
View Comments (
)
|
Email
|
Print
Revel Casino Announces Layoffs

AP

advertisement

Atlantic City's newest casino, Revel Casino-Hotel, laid off 75 managerial and professional employees Monday even as it announced its first profitable week since opening more than a year ago.

Chief Executive Officer Jeff Hartmann said the layoffs came in many departments and included a senior Vice President. ``It's a very difficult day here at the company,'' he said in an interview.

The 75 workers represented about 2 percent of Revel's employees.

Hartmann said the number of professionals had to be reduced because it was based on revenue projections that have not been realized.

He also said that the "frontline'' customer service employment numbers have increased as more people have come to the facility recently.

Related Stories

The $2.4 billion oceanside facility opened in April 2012 as a destination resort and immediately found itself struggling along with the rest of the city's casinos. It filed for Chapter 11 bankruptcy protection earlier this year and emerged in May with less debt and a new management team.

Last month, the casino launched a new marketing theme catering more to gamblers and allowing smoking on the casino floor for the first time. It also pledged to refund slot-machine losses for July for those who sign up for the casino's players' club card.

Hartmann said the promotions have worked so far. He said the first week of July was the first time in the property's history that it had a profitable week. Hartmann would not give more detailed figures, though, and said that the profits were before the casino refunds losses in August for gambling in July.

Still, he said, having more guests is a good step, and so is cutting costs, though the layoffs are painful.

"It's up to us how sustainable it is,'' Hartmann said.
 

Get the latest headlines sent to your inbox!
View Comments (
)
|
Email
|
Print
Leave Comments
What's New
FlyeredUp: Win 2 Tickets to Flyers Playoff Game
Win two tickets to the first 2014... Read more
Follow Us
Sign up to receive news and updates that matter to you.
Send Us Your Story Tips
Check Out