The defunct Revel casino in Atlantic City has a new name and a new management team.
Speaking to a crowd of fellow real estate and retail professionals, developer Bart Blatstein on Tuesday made a pitch for bringing new development and investment to Atlantic City.
THE RUNDOWN: Like its gaming revenue, property values in Atlantic City have plummeted over much of the past decade. That’s according to a new story by The Press Atlantic City, which found that total property assessments in the city have fallen from more than $20 million in 2008 to roughly $7 million today.
The Pinnacles Cos., in a joint venture with The Hampshire Cos. and investment partner Circle Squared Alternative Investments, broke ground recently on downtown Montclair’s first new full-service hotel in decades.