July 09–Revel Casino-Hotel is adding two new senior executives to its management team as it continues to restructure its operations and marketing strategy since emerging from bankruptcy protection under new ownership.
Scott Kreeger, who has served as a marketing and entertainment executive with Station Casinos in Las Vegas, will become Revel’s new second-in-command as interim chief operating officer.
In another move, former Trump Entertainment Resorts Inc. attorney Loretta Pickus will join Revel as a senior vice president and general counsel.
The New Jersey Casino Control Commission is scheduled to give regulatory approval for Kreeger and Pickus at its meeting Wednesday.
Revel has been restructuring its executive ranks as part of its trip through Chapter 11 bankruptcy this year, a move that reduced the casino’s debt from about $1.5 billion to $272 million and placed it under the new ownership of its major lenders.
Jeffrey Hartmann, Revel’s interim chief executive officer, heads the new management team. He replaced Revel’s former CEO Kevin DeSanctis last March in a shakeup orchestrated by the lenders.
Revel, a $2.4 billion megaresort, has struggled since opening in April 2012. It is trying to recover from a $111 million gross operating loss last year as well as disappointing gambling revenue that has left it mired near the bottom of the pack among Atlantic City’s 12 casinos.
In hopes of boosting revenue, Revel’s post-bankruptcy restructuring includes a new “Gamblers Wanted” marketing campaign that appeals more to Atlantic City’s traditional customer base. Previously, Revel had touted itself as an exclusive, high-end resort, but that image was blamed for scaring away the daytripping gamblers who represent the bulk of the casino industry’s business.
Revel recently scrapped its no-smoking policy, reduced its restaurant prices and launched an aggressive promotions campaign to lure more customers. A centerpiece of its new marketing strategy includes a “You Can’t Lose!” promotion that promises to refund customers’ slot losses through July.
