Company: Revel Entertainment Group Parent Company: Revel AC Subsidy Source: state Location: New Jersey City: Atlantic City Project Description: casino Year: 2011 Major Industry of Parent: entertainment Specific Industry of Parent: casinos Subsidy Value: $323,000,000 Program Name: multiple Awarding Agency: Economic Development Authority Type of Subsidy:
Number of Jobs or Training Slots: 5,500 Source of Data: The $261.4 million Economic Redevelopment & Growth award was reported by: Donald Wittkowski, "New Jersey approves $261 million tax reimbursement for Revel casino," Press of Atlantic City, February 1, 2011 and is listed in the ERG activity report at (click here). Additional subsidies worth $61.6 million--including $37 million for widening roads leading to the casino, $2.6 million in state worker training awards and $22 million in state luxury sales tax rebates--were reported in Suzette Parmley, "Revel's Rocky Launch," Philadelphia Inquirer, August 21, 2012. Notes: The Revel Casino was awarded over $261 million in the form of an Economic Redevelopment Growth (ERG) grant, which is a performance based subsidy that is not yet disbursed. It is also eligible for $2.6 million in worker training subsidies from the state and $22 million in state luxury sales tax rebates. The state also agreed to spend $37 million on widening roads leading to the casino. The casino filed for bankruptcy in March 2013, and the outcome of the subsidies is uncertain. The ERG award is also listed in the main Subsidy Tracker data for that program. Source Notes: If an online information source is not working, check the Tracker inventory page for an updated link.