Morgan Stanley, Garrity's Wall Street investment firm, had just lined up land for what would become Revel. Michael Garrity recalls sitting on a pile of dirt at the end of the Atlantic City Boardwalk in 2006 with Kevin DeSanctis, a former New Jersey state trooper and casino executive. Given that, Atlantic City is trying to remake itself into a place where gourmet restaurants, top-name concerts, spas and luxurious hotel rooms are just as important as slot machines and cards. Gambling revenue has fallen from $5.2 billion in 2006 to $3.3 billion last year. It's in keeping with the new thinking in Atlantic City, the nation's second-largest gambling market that has taken a pounding over the last five years from the recession and a slew of new casinos popping up all around it in neighboring states. Revel is marketing itself as a lifestyle resort, a vacation and meeting mecca that just happens to offer casino gambling as well. That's also what officials from the shore to Trenton are counting on.
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