Nine months after breaking ground, a plane crash killed three Revel construction executives. Despite the crash, construction continued through cutbacks and layoffs, until investors facing the reality of cratering gaming revenue in Atlantic City made the decision to pull the plug on the project and take a $932 million loss. At that moment, the Revel curse was born. The sordid tale began in 2007, when Morgan Stanley committed $1.25 billion to help build Atlantic City’s first new casino since the Borgata opened in 2003. (Just look at Christie’s poll numbers if you don’t believe me) Now, the shell of those hopes sits empty, powerless and haunted by the 3,000 souls who lost their job in a failed project that has cursed everyone who has touched it. It was supposed to make the investors rich, boost tax revenues, and let customers think they were living like the top 1 percent. When the Revel opened on Apthere were a lot of hopes riding on its success. Promises of a new life in a spacious home but then bad things start to happen. The rise and fall of the Revel casino in Atlantic City is like a high-rise Amittyville Horror story.
