Revel Atlantic City Rebrands, as Glenn Straub Names the Resort ‘TEN’
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Revel Atlantic City will be called TEN moving forward, as new owner Glenn Straub makes the property for its reopening that is grand in.
Revel Atlantic City is formally 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 name.
Glenn Straub, the real-estate developer who paid $82 million for the bankrupt property, has revealed the Revel is going to be referred to as ‘TEN’ when it opens its doorways in early 2017.
‘It’s what’s next in Atlantic City,’ TEN CEO Robert Landino told the Press of Atlantic City. ‘We are thrilled to share our brand using the general public and to introduce a new era of resort and entertainment.’
Straub and his Polo that is florida-based North Club development company happen at odds with New Jersey’s Casino Reinvestment Development Authority (CRDA) and Division of Gaming Enforcement (DGE) for months. Straub desired to reopen the resort in June as a facility that is hotel-only but was forced to postpone rolling out 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 features an infinity icon under the TEN name.
‘Our infinity logo represents our mission to provide the highest-rated amenities and our day to day seek to offer an escape that is infinitely perfect our visitors, families and organizations,’ Landino concluded.
Straub had promised $10,000 to the one who could come up with a winning title for the Revel overhaul. It’s unclear if TEN is the imaginative concept of Straub, or if it came from the public that is general.
Simply Take TEN
Whenever TEN reopens in the first quarter of 2017, the resort can look much different than Revel Atlantic City. Straub is transforming the mammoth property to feature family friendly activity.
Revel was more oriented towards the sexier and more youthful nightclub crowd. Former NFL star Ray Rice brought the resort much undesirable publicity when video clip footage emerged showing him assaulting his then-fiancé in a Revel elevator in 2014.
Instead of catering to late-night shenanigans, Straub is applying a ropes course and 13-story endurance bicycling track.
Straub planned to open 900 of Revel’s 1,399 rooms on June 15, though he admittedly said he was not sure he’d want to sign in ‘till we get yourself a chance to clean it up.’ But New Jersey has been slow, at least according to Straub, in approving permits for their 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 Atlantic that is secret City been struggling. Four casino resorts have closed since 2014, and a fifth is coming by way of the Trump Taj Mahal.
Like Straub, billionaire Carl Icahn had remained optimistic regarding the future of the beachfront gambling city and planned to invest greatly in its revitalization.
But come October 10, Icahn is folding on the Taj and shuttering the home. That may leave just seven gambling enterprises in Atlantic City.
Straub’s TEN will return that number to eight should the city approve his gaming license application. Though he’s willing to open TEN as a hotel and resort that is recreational https://myfreepokies.com/dolphin-treasure/ video gaming stays a target.
‘You have to provide me personally a chance, i am attempting to help,’ Straub told the CRDA this month.
Wynn Angered by Revere Slots Parlor Proposal
Steve Wynn’s problems in Massachusetts carry on as he seeks to expand his kingdom on the East Coast.
After a protracted and bidding that is occasionally bad-tempered with Mohegan Sun, Wynn won the bid for hawaii’s final remaining casino license, defeating different municipal legal actions along the way.
Steve Wynn addresses the press in front of a model associated with Wynn Boston Harbor. But will Massachusetts residents vote to authorize a slots parlor just three miles away? (Image: Jessica Rinaldi/Boston World)
Wynn Resorts happens to be getting down seriously to the business of changing a former chemical plant into a shiny waterfront casino that is new.
It is no effortless task; the plot of land has been contaminated with lead, arsenic and other pollutants for many years while the clean-up procedure is expected 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 kilometers from where in actuality the $2.1 billion Wynn Boston Harbor is being built has exasperated the business.
Wynn Resorts claims that the proposition is really a breach of the 2011 legislation that legalized casino gaming in the state and laid down quotas that are strict the amount of casinos permitted into the state.
Wynn Says It’s ‘Not Fair’
There is strong help for the notion of a casino in Revere, where the historic Suffolk Downs racetrack relies. The racetrack partnered with Mohegan Sun for the casino proposition that went up against Wynn in 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 also come in now and circumvent the statutory law.’
The requirement to safeguard Suffolk Downs therefore the horse that is thoroughbred industry had been 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 permit, and it relies heavily on funding from the state although it has since reopened for limited racing.
‘Slapdash Proposal’
None of that is Wynn’s fault, and House Speaker Robert DeLeo, among the architects of this 2011 bill, agrees that the new proposal is beyond the pale.
‘I stand in opposition to matter 1 [the ballot],’ DeLeo said. ‘ As soon as we crafted the law, my focus that is main was boosting the economy and producing jobs. Key to that work had been producing an independent Gaming Commission which conducts thorough market analyses and then makes informed decisions.
‘This slapdash proposition would upset the deliberate and delicate balance we worked so difficult to generate.’
New Jersey Senate President Stephen Sweeney Goes After Carl Icahn in New Casino Regulatory Bill
Nj-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 New Jersey State Senate President Stephen Sweeney has the legislative power on his part, and is able to accept the casino developer. (Image: Tony Kurdzuk/The Star-Ledger)
Senate Bill 2575, which 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 proceed in closing and opening gambling enterprises.
The bill seeks to disqualify casino license applicants if the individual or entity behind the bid ‘substantially closed’ a casino home in the previous 5 years. The definition of ‘substantially shut’ could be defined by the state’s Division of Gaming Enforcement (DGE) and present extra powers to the gaming authority that is regulatory.
The writing of SB 2575 suggests that operators who intentionally close a casino with plans to later reopen the location 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, even though it doesn’t directly reference Carl Icahn or the soon-to-shutter Trump Taj Mahal. After a nasty labor dispute, the billionaire announced the casino resort would be closing on October 10.
The Taj shutdown shall mark Atlantic City’s fifth casino closing since 2014. Icahn says he stands to lose $100 million on the undertaking that is entire but other people believe he has more sinister plans.
‘This bill encourages casino owners to keep their properties open and rebuild Atlantic City rather than keep their license and throw thousands of families to the curb,’ Sweeney stated.
Ongoing Work Disputes
Icahn was in a heated battle with the Unite Here neighborhood 54 labor union that actually works at the Trump Taj Mahal. The billionaire developer acquired the flailing property in February by purchasing Trump Entertainment Resorts.
The union, which represents bartenders, wait staff, chefs, and housekeepers, demanded the renovation of user health and pension benefits, plus higher hourly wages. A bankruptcy judge allowed Icahn to reduce certain benefits for the period that is interim in purchase to bring the casino resort out of the red.
But the union, which represents about 1,000 of Taj’s 2,800-employee workforce, ultimately lost its persistence and initiated several protests, all of which dropped on deaf ears when Icahn would not relent.
‘Icahn Enterprises was willing to endure a tough situation when we thought we’re able to emerge successful,’ Icahn said in a letter to workers. ‘We wish this story could have experienced an ending that is different. We can do everything we could to control the closure into the best way possible.’
Sweeney in Retrograde
Some in New Jersey believe Icahn is ‘warehousing’ the casino gambling license, and will reopen the resort under a fresh title, sufficient reason for a labor force that is new. Sweeney’s bill would avoid him from doing just that.
And aside from the actual fact that SB 2570 is not presently on the books, the Senate president is making certain it would apply to Icahn, by including a provision that makes the legislation retroactive to January 1, 2016.
‘Casino owners shouldn’t be able to misuse bankruptcy legislation and gaming regulations in order to warehouse a license and take money out of the pockets of casino workers and strip them of benefits since they will not come to a labor agreement using their employees,’ Sweeney told the Press of Atlantic City this week.
Fighting Among Arkansas Casino Ballot Opponents Picking Right On Up Steam
Jerry Cox, president of this 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, while the movement that is pro-casino to have a lawsuit that would block the ballot which was dismissed by the Arkansas Supreme Court.
The Arkansas Winning Initiative (AWI), which desires voters to amend the constitution allowing up to three casinos in the state, collected over 100,000 signatures in favor of casino gaming, sufficient to force a referendum under state law.
But earlier this anti-casino group the Committee to Protect Arkansas’ Values/Stop Casinos Now filed a lawsuit in the Supreme Court aiming to stop the ballot in its tracks month.
Their filing contends that the language of the ballot misleads the public into believing that sports gambling will be available at the proposed casinos, while in fact it will be illegal. It additionally claims that the ballot does not convey comprehensively to voters the consequences of this measure.
Gaming Monopoly
On Monday, the AWI filed a motion arguing that the anti-casino group has no standing to file the suit that it has been harmed by the decision to hold the ballot vote because it has not shown. It also claims that the Supreme Court does not have jurisdiction to hear the way it is.
Last week, Arkansas’ current gaming industry, which consists of Oaklawn Racing and Gaming and Southland Park Gaming and Racing became an ally that is unlikely of state’s anti-gambling teams, donating $109,500 towards 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 movement’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 very happy to expand on as he went toe-to-toe with AWI spokesman Robert Coon on the local affairs that are current Arkansas Matters this week.
