As you may recall, Revel Casino had a 100% loss rebate promotion throughout the month of July. I wrote about beating it in this blog post. The question if this promotion was a good idea is still open. According to this article in the N.Y. Post,, for the month of September, 2013, "Revel Casino Hotel, which announced a new president on Thursday, was down 11.9 percent to $14.8 million." The good news is that Revel Casino beat the street: overall, Atlantic City's revenue was down 12.9 percent. While Revel has performed ahead of the market since the end of the loss-rebate promotion, at least two delayed costs are coming to light.
One of the costs is that Revel is facing various lawsuits, including a class action lawsuit, Peregrine vs. Revel:
This is a class action brought on behalf of Plaintiffs, individually, and on behalf of all other similarly situated consumers who gambled at the Revel Casino slot machines in Atlantic City, New Jersey during July 2013. Contrary to the promises made by Defendants, Plaintiffs suffered slot losses that were ultimately not reimbursed by Defendants.
I managed to track down the full complaint: Peragrine_Vs_Revel
The other cost is the public-relations impact.
In particular, I highly recommend:
