
Revel Atlantic City will be called TEN moving forward, as new owner Glenn Straub prepares the property for its grand reopening in 2017.
Revel Atlantic City is officially no more. The $2.4 billion resort that started in 2012 and then shut 29 months later on got a new owner in 2015, and now it’s obtaining a new title.
Glenn Straub, the estate that is real who paid $82 million for the bankrupt property, has revealed the Revel will be referred to as ‘TEN’ when it opens its doors in early 2017.
‘It’s what’s next in Atlantic City,’ TEN CEO Robert Landino told the Press of Atlantic City. ‘Our company is thrilled to share our brand with all the general public and to introduce an era that is new of and entertainment.’
Straub and his Florida-based Polo North Country Club development business have been at odds with New Jersey’s Casino Reinvestment Development Authority (CRDA) and Division of Gaming Enforcement (DGE) for months. Straub sought to reopen the resort in June as a facility that is hotel-only but was forced to postpone rolling away the red carpeting due to incomplete permits.
Straub seemed to bluff at forgoing his interests in revitalizing the Revel turned TEN, nevertheless now he appears recommitted.
The logo that is new the resort has infinity expression under the TEN name.
‘Our infinity logo represents our mission to provide the highest-rated amenities and our daily seek to offer an escape that is infinitely perfect our visitors, families and companies,’ Landino concluded.
Straub had promised $10,000 to the person who could come up with a winning name for the Revel overhaul. It is unclear if TEN is the innovative concept of Straub, or if it originated in the public that is general.
Just Take TEN
Whenever TEN reopens in the quarter that is first of, the resort will appear much different than Revel Atlantic City. Straub is transforming the mammoth property to feature household friendly activity.
Revel was more oriented towards the sexier and younger nightclub crowd. Former NFL star Ray Rice brought the resort much publicity that is unwanted movie footage emerged showing him assaulting his then-fiancé in a Revel elevator in 2014.
Instead of catering to late-night shenanigans, Straub is implementing a ropes course and 13-story endurance track that is bicycling.
Straub planned to open 900 of Revel’s 1,399 rooms on June 15, he wasn’t sure he’d want to register ’till we get yourself a possiblity to clean it. though he admittedly said’ But brand New Jersey has been slow, at least in accordance with Straub, in approving permits for his operation.
The CRDA will review Straub’s latest traffic mitigation plans on September 20, and then apply for a certificate of occupancy if approved, TEN could.
TEN Makes Nine, No Eight
It’s no secret Atlantic City has been struggling. Four casino resorts have actually closed since 2014, and a fifth is coming by way for the Trump Taj Mahal.
Like Straub, billionaire Carl Icahn had remained optimistic in the future of the beachfront city that is gambling planned to invest greatly in its revitalization.
But come 10, Icahn is folding on the Taj and shuttering the property october. That may leave just seven gambling enterprises in Atlantic City.
Straub’s TEN will return that true number to eight should the city approve his gaming permit application. Though he’s prepared to open TEN as a hotel and resort that is recreational video gaming continues to be a target.
‘You’ve got to give me personally a chance, I’m attempting to help,’ Straub told the CRDA this month.
Wynn Angered by Revere Slots Parlor Proposal
Steve Wynn’s problems in Massachusetts continue as he seeks to expand his empire in the East Coast.
After a protracted and occasionally bad-tempered putting in a bid war with Mohegan Sun, Wynn won the bid for their state’s last remaining casino license, defeating various municipal legal actions along the way.
Steve Wynn addresses the press in front side of a model for the Wynn Boston Harbor. But will Massachusetts residents vote to authorize a slots parlor just three kilometers away? (Image: Jessica Rinaldi/Boston World)
Wynn Resorts is now getting right down to the business of changing a former chemical plant into a shiny waterfront casino that is new.
It’s no easy task; the plot of land has been contaminated with lead, arsenic and other pollutants for many years and also the clean-up operation is anticipated to cost the company around $30 million.
It’s no surprise that a ballot that is statewide would authorize a slots parlor in Revere, just three miles from in which the $2.1 billion Wynn Boston Harbor is being built has exasperated the organization.
Wynn Resorts claims that the proposition is just a violation of the 2011 legislation that legalized casino gaming in the state and laid down quotas that are strict the amount of casinos allowed within the state.
Wynn Says It’s ‘Not Fair’
There is strong help for the thought of a casino in Revere, where the historic Suffolk Downs racetrack is situated. The racetrack partnered with Mohegan Sun for the casino proposal that went up against Wynn into the licensing bid, and many felt betrayed when it lost.
‘It’s not reasonable to Wynn Resorts,’ said Robert DeSalvio, senior VP of development at Wynn, told the Boston Globe this week. ‘We arrived to Massachusetts understanding there would be three casinos and one slots parlor under state law, not three casinos and two slots parlors. Someone shouldn’t can be found in now and circumvent the statutory law.’
The requirement to protect Suffolk Downs as well as the horse that is thoroughbred industry ended up being certainly one of the primary motivations for the 2011 act that legalized casino gaming in Massachusetts.
Suffolk Downs was forced to close whenever Wynn won the license, and even though it has since reopened for limited racing, it relies heavily on funding from their state.
‘Slapdash Proposal’
None of this really is Wynn’s fault, and House Speaker Robert DeLeo, one of the architects for the 2011 bill, agrees that the new proposal is beyond the pale.
‘I stand in opposition to matter 1 [the ballot],’ DeLeo said. ‘ When we crafted the legislation, my main focus ended up being on boosting the economy and creating jobs. Key to that effort had been creating an independent Gaming Commission which conducts market that is thorough and then makes informed decisions.
‘This slapdash proposal would upset the deliberate and balance that is delicate worked so difficult to generate.’
New Jersey Senate President Stephen Sweeney Goes After Carl Icahn in New Casino Regulatory Bill
New Jersey State Senate President Stephen Sweeney (D-District 3) has introduced new legislation that would overhaul casino licensing protocols in Atlantic City.
He may have about $15 billion lower than Carl Icahn, but nj-new Jersey State Senate President Stephen Sweeney has the power that is legislative their side, and is preparing to accept the casino developer. (Image: Tony Kurdzuk/The Star-Ledger)
Senate Bill 2575, that was introduced concurrently with Assemblyman John Burzichelli’s (D-District 3) Assembly Bill 4187 in identical text and language, would amend the law that is current how license holders continue in closing and opening casinos.
The bill seeks to disqualify casino license applicants in the event that entity or person behind the bid ‘substantially closed’ a casino property in the past 5 years. The definition https://myfreepokies.com/dolphin-treasure/ of ‘substantially closed’ will be defined by the state’s Division of Gaming Enforcement (DGE) and give additional powers to the gaming regulatory authority.
The written text of SB 2575 suggests that operators who intentionally close a casino with plans to later reopen the venue under a name that is new new labor contracts would qualify as owners who ‘substantially closed.’
The clause makes no secret about its intended target, also though it doesn’t straight reference Carl Icahn or the Trump Taj that is soon-to-shutter Mahal. The billionaire announced the casino resort would be closing on October 10 after a nasty labor dispute.
The Taj shutdown will mark Atlantic City’s fifth casino closing since 2014. Icahn says he stands to lose $100 million on the undertaking that is entire but others believe he has more sinister plans.
‘This bill encourages casino owners to help keep their properties open and rebuild Atlantic City instead than keep their license and throw thousands of families to the curb,’ Sweeney stated.
Ongoing Work Disputes
Icahn happens to be in a heated battle with the Unite Here Local 54 work union that actually works during the Trump Taj Mahal. The billionaire developer acquired the flailing property in February by buying Trump Entertainment Resorts.
The union, which represents bartenders, wait staff, cooks, and housekeepers, demanded the restoration of user health insurance and pension benefits, plus higher wages that are hourly. A bankruptcy judge allowed Icahn to reduce specific benefits for the period that is interim in order to bring the casino resort away from the red.
But the union, which represents about 1,000 of Taj’s 2,800-employee workforce, sooner or later lost its patience and initiated protests that are several all of which fell on deaf ears whenever Icahn wouldn’t relent.
‘Icahn Enterprises was ready to endure a tough situation when we thought we’re able to emerge successful,’ Icahn said in a letter to employees. ‘We wish this story could experienced a different ending. We will do everything we could to control the closure in the way that is best possible.’
Sweeney in Retrograde
Some in nj-new Jersey believe Icahn is ‘warehousing’ the casino gambling license, and will reopen the resort under a brand new name, along with a brand new labor pool. Sweeney’s bill would avoid him from doing just that.
And no matter the fact that SB 2570 isn’t currently regarding the books, the Senate president is making certain it would use to Icahn, by including a provision that makes the legislation retroactive to 1, 2016 january.
‘Casino owners must not be able to misuse bankruptcy rules and gaming regulations in order to warehouse a license and take cash out of the pockets of casino workers and strip them of benefits simply because they refuse to visited a labor agreement along with their employees,’ Sweeney told the Press of Atlantic City this week.
Fighting Among Arkansas Casino Ballot Opponents Picking Right Up Steam
Jerry Cox, president associated with the Arkansas Family Council, believes that the pro-casino supporters of a Arkansas casino ballot vote is composed of predatory businessmen from Missouri. (Image: thv11.com)
The war of words over Arkansas’ casino ballot heated up this week, because the movement that is pro-casino to have a lawsuit that would block the ballot that has been dismissed by the Arkansas Supreme Court.
The Arkansas Winning Initiative (AWI), which desires voters to amend the constitution to allow up to three casinos into the state, collected over 100,000 signatures in favor of casino video gaming, enough to force a referendum under state law.
But earlier in the day this month, anti-casino group the Committee to Protect Arkansas’ Values/Stop Casinos Now filed case in the Supreme Court looking to stop the ballot in its tracks.
Their filing contends that the language associated with the ballot misleads the public into believing that activities gambling is available at the proposed casinos, while in reality it shall be unlawful. It additionally claims that the ballot does not convey comprehensively to voters the consequences of the measure.
Gaming Monopoly
On Monday, the AWI filed a motion arguing that the anti-casino group has no standing to file the suit because it has not shown that it was harmed by your choice to hold the ballot vote. Additionally claims that the Supreme Court does not have jurisdiction to hear the case.
Last week, Arkansas’ existing gaming industry, which consists of Oaklawn Racing and Gaming and Southland Park Gaming and Racing became a unlikely ally for the state’s anti-gambling groups, donating $109,500 to the cause. Oaklawn and Southland offer ‘skill-based’ video gaming at their racetracks and currently enjoy a monopoly that is complete gaming in Arkansas.
A theme that is popular developing within the anti-ballot motion’s rhetoric, which sees AWI as ‘out-of-state’ entrepreneurs, preying on Arkansas.
It was this theme that Jerry Cox, president of the Arkansas Family Council was pleased to expand on when he went toe-to-toe with AWI spokesman Robert Coon on the regional affairs that are current Arkansas Matters this week.
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