http://www.pressofatlanticcity.com/t...-7417098c.html
(Published: November 19, 2007)
2:40 p.m. Update -
ATLANTIC CITY - Revel Entertainment Group has secured a key environmental permit for its proposed $2 billion megacasino on a 20-acre oceanfront site, the company said Monday.
The New Jersey Department of Environmental Protection approved a Coastal Area Facilities Review Act permit for the casino hotel. The permit, required for major construction projects in coastal areas, was the most stringent environmental regulation faced by Revel.
In the past two weeks, Revel has also received preliminary site plan approval from the Atlantic City Planning Board and entered into a development agreement with City Council.
"Over the last year, Revel has made significant progress in advancing its plan to develop a unique resort entertainment casino project," Kevin DeSanctis, the company's chairman and chief executive officer, said in a statement announcing approval of the CAFRA permit.
With permit in hand, Revel plans to begin work soon on the footings and foundation work. The casino is scheduled to open in the second half of 2010 on a site overlooking the Boardwalk between Oriental, Connecticut and Metropolitan avenues.
Revel recently unveiled architectural renderings for two hotel towers containing 1,900 rooms each, 150,000 square feet of casino space and 500,000 square feet of retail, dining and entertainment attractions. Amenities would include a spa, a 5,000-seat events center and Atlantic City's first Las Vegas-style casino wedding chapel.
The company still must decide whether to build both hotel towers simultaneously or open with just one and add the second later on based on market conditions. At 700 feet high, the Revel towers would be the tallest buildings in Atlantic City.
Known only as "Revel," the casino will feature an ocean theme to take advantage of the site's 1,000 feet of beachfront land. The interior part of the complex, tucked in between the hotel towers, will have a curvy facade as though sculpted by waves.
Revel, an upstart gaming company, has partnered with Wall Street investment giant Morgan Stanley for the huge casino. Revel's project will be Atlantic City's 12th casino if it opens in 2010. Pinnacle Entertainment Inc. and MGM Mirage Inc. have plans for new casinos opening in 2011 or 2012.
- Donald Wittkowski