Revel Atlantic City Rebrands, as Glenn Straub Names the Resort ‘TEN’
Revel Atlantic City will be referred to as TEN moving forward, as new owner Glenn Straub makes the property for its grand reopening in 2017.
Revel Atlantic City is officially no more. The $2.4 billion resort that started in 2012 simply to shut 29 months later on got a new owner in 2015, and now it’s finding a new title.
Glenn Straub, the estate that is real who paid $82 million for the bankrupt property, has revealed the Revel is called ‘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. ‘We are thrilled to share our brand utilizing the public and to introduce an era that is new of and entertainment.’
Straub and his Florida-based Polo North Country Club development business have already 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 hotel-only facility, but was forced to postpone rolling out the red carpet due to incomplete permits.
Straub seemed to bluff at forgoing his interests in revitalizing the Revel turned TEN, nevertheless now he appears recommitted.
The new logo design for the resort has infinity sign under the TEN name.
‘Our infinity logo design represents our mission to provide the highest-rated amenities and our everyday 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 think of a winning name for the Revel overhaul. It’s unclear if TEN is the innovative concept of Straub, or if it originated from the average man or woman.
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 home to feature family entertainment that is friendly.
Revel was more oriented towards the sexier and more youthful nightclub crowd. Former NFL star Ray Rice brought the resort much publicity that is unwanted video 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 wasn’t sure he’d want to check in ‘till we get a possiblity to clean it up.’ But brand New Jersey has been slow, at least based on Straub, in approving permits for their operation.
The CRDA will review Straub’s latest traffic mitigation plans on September 20, and if approved, TEN could then apply for a certificate of occupancy.
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 regarding the Trump Taj Mahal.
Like Straub, billionaire Carl Icahn had remained optimistic on 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 house. That may leave just seven casinos in Atlantic City.
Straub’s TEN will return that true number to eight if the city approve his gaming license application. Though he’s willing to open TEN as a hotel and recreational resort, video gaming continues to be a target.
‘You have to provide 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 on the East Coast.
After a protracted and occasionally bad-tempered bidding war with Mohegan Sun, Wynn won the bid for hawaii’s final remaining casino license, defeating various municipal lawsuits in the process.
Steve Wynn addresses the press in front side 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 is currently getting right down to the business of changing a former chemical plant into a shiny brand new waterfront casino.
It is no task that is easy the plot of land has been contaminated with lead, arsenic and other pollutants for many years plus the clean-up procedure is expected to cost the company around $30 million.
It’s no surprise that a statewide ballot that 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 company.
Wynn Resorts claims that the proposition is a violation 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 support for the idea of a casino in Revere, where the historic Suffolk Downs racetrack is situated. The racetrack partnered with Mohegan Sun for the casino proposition that went up against Wynn into the licensing bid, and many felt betrayed when it lost.
‘It’s not fair to Wynn Resorts,’ said Robert DeSalvio, senior VP of development at Wynn, told the Boston Globe this week. ‘We came into Massachusetts understanding there would be three casinos and one slots parlor under state law, not three casinos and two slots parlors. Somebody shouldn’t are available in now and circumvent the law.’
The necessity to protect Suffolk Downs therefore the thoroughbred horse racing industry was 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 although it has since reopened for limited racing, it relies heavily on funding from the state.
None of this is Wynn’s fault, and House Speaker Robert DeLeo, one of the architects regarding the 2011 bill, agrees that the proposal that is new beyond the pale.
‘I stand in opposition to matter 1 [the ballot],’ DeLeo said. ‘ As soon as we crafted the law, my main focus ended up being on boosting the economy and creating jobs. Key to that work was producing an independent Gaming Commission which conducts market that is thorough and then makes informed decisions.
‘This slapdash proposal would upset the deliberate and delicate balance we worked so difficult to produce.’
New Jersey Senate President Stephen Sweeney Goes After Carl Icahn in New Casino Regulatory Bill
Nj State Senate President Stephen Sweeney (D-District 3) has introduced legislation that is new would overhaul casino licensing protocols in Atlantic City.
He may have about $15 billion significantly less than Carl Icahn, but nj-new Jersey State Senate President Stephen Sweeney has the power that is legislative their side, and is able to accept the casino developer. (Image: Tony Kurdzuk/The Star-Ledger)
Senate Bill 2575, that has been 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 conclusion and opening casinos.
The bill seeks to disqualify casino license applicants if the entity or person behind the bid ‘substantially closed’ a casino property in the previous 5 years. The definition of ‘substantially closed’ would be defined by the state’s Division of Gaming Enforcement (DGE) and give additional powers to the gaming regulatory authority.
The writing of SB 2575 suggests that operators who intentionally close a casino with plans to later reopen the location under a brand new name with 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 Trump Taj that is soon-to-shutter Mahal. After a nasty labor dispute, the billionaire announced the casino resort would be closing on October 10.
The Taj shutdown will mark Atlantic City’s fifth casino closing since 2014. Icahn says he stands to reduce $100 million on the undertaking that is entire but others believe he has more sinister plans.
‘This bill encourages casino owners to keep their properties open and rather rebuild Atlantic City than keep their license and throw thousands of families to the curb,’ Sweeney said.
Ongoing Work Disputes
Icahn is in a battle that is heated the Unite Here neighborhood 54 labor union that 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 renovation of user health and pension benefits, plus higher hourly wages. A bankruptcy judge allowed Icahn to reduce particular benefits for the period that is interim in order to bring the casino resort out of the red.
But the union, which represents about 1,000 of Taj’s 2,800-employee workforce, fundamentally destroyed its patience and initiated several protests, all of which fell on deaf ears when Icahn would not relent.
‘Icahn Enterprises was willing to endure a situation that is tough we thought we’re able to emerge successful,’ Icahn said in a letter to workers. ‘We wish this story could have experienced a different ending. We will do everything we can to control the closure in the way that https://myfreepokies.com/dolphin-treasure/ is best possible.’
Sweeney in Retrograde
Some in nj-new Jersey believe Icahn is ‘warehousing’ the casino gambling license, and can reopen the resort under a fresh name, along with a brand new work force. Sweeney’s bill would prevent him from doing just that.
And no matter the fact that SB 2570 is not currently on the books, the Senate president is making sure it would use to Icahn, by including a provision that makes the legislation retroactive to January 1, 2016.
‘Casino owners really should not be able to misuse bankruptcy laws and gaming regulations in order to warehouse a license and take money out of the pockets of casino workers and strip them of benefits simply because they refuse to arrived at a labor agreement with their employees,’ Sweeney told the Press of Atlantic City this week.
Fighting Among Arkansas Casino Ballot Opponents Picking Up Steam
Jerry Cox, president of this Arkansas Family Council, believes that the pro-casino supporters of an 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 in the state, collected over 100,000 signatures in favor of casino video gaming, enough to force a referendum under state law.
But previously this month, anti-casino group the Committee to Safeguard Arkansas’ Values/Stop Casinos Now filed case within the Supreme Court planning to stop the ballot in its tracks.
Their filing contends that the language of this ballot misleads the public into believing that recreations wagering will be available at the proposed casinos, while the truth is it shall be illegal. It additionally claims that the ballot fails to convey comprehensively to voters the consequences for the measure.
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 so it happens to be harmed by the decision to hold the ballot vote. It claims that the Supreme Court won’t have jurisdiction to listen to the truth.
Last week, Arkansas’ existing gaming industry, which consists of Oaklawn Racing and Gaming and Southland Park Gaming and Racing became a not likely ally associated with the state’s anti-gambling groups, donating $109,500 to your cause. Oaklawn and Southland offer ‘skill-based’ gambling at their racetracks and currently enjoy a complete monopoly on 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 very happy to expand on when he went toe-to-toe with AWI spokesman Robert Coon on the neighborhood affairs that are current Arkansas Matters this week.