Revel Customers Displeased with Slot Rebate Program
When Revel Casino in Atlantic City emerged from bankruptcy earlier this year, it devised a program to help itself win customers by promising them that they essentially couldn’t lose.
That is to say, at least not at slot machines, since the casino promised to run a promotion during the month of July in which players who lost out on slot machines at the property could be refunded their cash up to $100,000. Unfortunately for players, there is some fine print attached to this offer, and it turns out that Revel’s customers aren’t reveling in the details.
Refund won’t be paid in cash, nor all at once
In announcing its slot rebate program, Revel ran a television ad in which they took full responsibility for their own plight, specifically that the $2.4 billion property found itself bankrupt with massive debts to creditors – who eventually settled the bankruptcy case with an equity-for-debt swap – within about eight months of its grand opening in April of 2012.
“When Revel opened, we made mistakes. Now, we’re asking for a second chance. So we are going to make you an offer you can’t refuse. You can’t lose! All July long, we’re going to refund all slot losses. That’s right — if you win, you win. If you lose, we’ll give it all back. And we’re also going to match all slot offers from our competitors. You really can’t lose. We want a second chance, and to earn it, we’re giving you a second chance,” said the ad.
Now, patrons are finding that the “chance” they’re being offered isn’t quite so rewarding as some would hope. In fact, the casino won’t be doling out cash refunds to cover players’ losses, but instead will be issuing the refunds in the form of slots play. Furthermore, the free slots play will be dispersed over a period of twenty weeks set to begin on August 5, not in a lump sum.
Frequent Revel visitor Ed Conti said that he thinks the fine print involved in the program is deceptive, and believes it is likely especially confusing to older gamblers, of which he is one.
“I think the Revel has taken some liberties that go beyond what I feel is reasonable to attract gamblers to their casino. I think their TV ad is misleading and I would bet — five will get you 10 — that seniors have fallen prey to it,” Conti said.
“The Revel has lost my business,” he added.
Program also said to be excluding so-called “advantage players”
Last week rumors were swirling that Revel was also denying the refunds to some high-volume gamblers and preventing other frequent patrons, known in casino terms as “advantage players” because they know how to take advantage of games in order to optimize their own winnings, from participating in the slot rebate program from the get-go.
While neither officials from Revel nor the mainstream news media have confirmed these reports, players and frequent casino visitors took to online forums last week to complain about the lack of transparency involved in this promotion.
Revel, which is the newest casino in New Jersey, has made some other changes in the hopes of moving toward profitability. Those adjustments include now allowing smoking on the property, something that was previously banned, as well as lowering prices property-wide.
Whether or not those enticements work at luring casino patrons back to Atlantic City from the now more-popular and newer casino properties located in nearby Pennsylvania remains to be seen, but it seems fair to say that the slots rebate promotion is so far looking like a bust.
