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 opened in 2012 simply to shut 29 months later on got a new owner in 2015, and now it’s finding a name that is new.
Glenn Straub, the estate that is real who paid $82 million for the bankrupt property, has revealed the Revel is 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 with the general public and to introduce a new period of resort and entertainment.’
Straub and his Polo that is florida-based North Club development business have now been 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 hotel-only facility, but was forced to postpone rolling away the red carpet due to incomplete permits.
Straub seemed to bluff at forgoing his interests in revitalizing the Revel turned TEN, but now he seems recommitted.
The new logo for the resort features an infinity sign underneath the TEN name.
‘Our infinity logo design represents our mission to provide the highest-rated amenities and our everyday endeavor to offer an escape that is infinitely perfect our guests, families and companies,’ Landino concluded.
Straub had promised $10,000 to the person who could think of a winning title for the Revel overhaul. It is unclear if TEN is the innovative concept of Straub, or if it originated in the average man or woman.
Simply Take TEN
When TEN reopens in the first quarter of 2017, the resort will appear much different than Revel Atlantic City. Straub is transforming the mammoth property to feature family members friendly entertainment.
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 implementing 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 register ‘till we get a possiblity to clean it up.’ But brand New Jersey has been slow, at least based on Straub, in approving licenses 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 certification of occupancy.
TEN Makes Nine, No Eight
It’s no key 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 positive on the future of the beachfront gambling city and planned to invest heavily in its revitalization.
But come October 10, Icahn is folding in the Taj and shuttering the home. That may leave just seven casinos in Atlantic City.
Straub’s TEN will return that quantity to eight should the city approve his gaming license application. Though he’s prepared to start TEN as a hotel and recreational resort, video gaming continues to be a target.
‘You have to provide me personally a chance, I’m wanting to assist,’ 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 empire in the East Coast.
After a protracted and occasionally bad-tempered bidding war with Mohegan Sun, Wynn won the bid for the state’s last remaining casino license, defeating different municipal lawsuits in the act.
Steve Wynn addresses the press in front of a model of the Wynn Boston Harbor. But will Massachusetts residents vote to authorize a slots parlor just three miles away? (Image: Jessica Rinaldi/Boston Globe)
Wynn Resorts is now getting down to the business of changing a former chemical plant into a shiny new waterfront casino.
It is no effortless task; the parcel has been contaminated with lead, arsenic and other pollutants for many years and the clean-up procedure is anticipated to cost the company around $30 million.
It’s no surprise that a statewide ballot that would authorize a slots parlor in Revere, simply 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 a violation of the 2011 legislation that legalized casino gaming within the state and laid down quotas that are strict the quantity of casinos permitted into the state.
Wynn Says It’s ‘Not Fair’
There is strong support for the notion 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 myfreepokies.com 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. Some one shouldn’t also come in now and circumvent the law.’
The necessity to protect Suffolk Downs and also the horse that is thoroughbred industry had been one of the primary motivations for the 2011 act that legalized casino gaming in Massachusetts.
Suffolk Downs was forced to close when Wynn won the license, and it relies heavily on funding from the state although it has since reopened for limited racing.
None of this might be Wynn’s fault, and House Speaker Robert DeLeo, among the architects for the 2011 bill, agrees that the new proposal is beyond the pale.
‘I stand in opposition to Question 1 [the ballot],’ DeLeo said. ‘ As soon as we crafted the legislation, my focus that is main was boosting the economy and producing jobs. Key to that effort was producing an independent Gaming Commission which conducts thorough market analyses and then makes informed decisions.
‘This slapdash proposition would upset the deliberate and balance that is delicate worked so hard to create.’
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 part, and is preparing to take on the casino designer. (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 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 home in the previous 5 years. The definition of ‘substantially shut’ would be defined by the state’s Division of Gaming Enforcement (DGE) and give additional powers to the gaming authority that is regulatory.
The text of SB 2575 implies that operators who intentionally close a casino with plans to later reopen the place under a new title 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. The billionaire announced the casino resort would be closing on October 10 after a nasty labor dispute.
The Taj shutdown shall mark Atlantic City’s fifth casino closing since 2014. Icahn says he stands to reduce $100 million on the entire undertaking, 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 Labor Disputes
Icahn is in a battle that is heated the Unite Here neighborhood 54 labor union that actually works during 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 restoration of member health and pension benefits, plus higher hourly wages. A bankruptcy judge allowed Icahn to reduce particular benefits for the interim period, 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, fundamentally lost its persistence and initiated several protests, all of which dropped on deaf ears whenever Icahn would not relent.
‘Icahn Enterprises was ready to endure a situation that is tough we thought we’re able to emerge successful,’ Icahn said in a page to workers. ‘We wish this story could have experienced a different ending. We will do everything we are able to to control the closure within the way that is best possible.’
Sweeney in Retrograde
Some in New Jersey believe Icahn is ‘warehousing’ the casino gambling license, and will reopen the resort under a new name, and with a new labor pool. Sweeney’s bill would avoid him from doing just that.
And regardless of the fact that SB 2570 isn’t presently in the books, the Senate president is making certain it would apply 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 video gaming regulations in purchase to warehouse a permit and take cash away from the pockets of casino workers and strip them of benefits simply because they will not come to a labor agreement along with their workers,’ Sweeney told the Press of Atlantic City this week.
Fighting Among Arkansas Casino Ballot Opponents Picking Right 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 entrepreneurs from Missouri. (Image: thv11.com)
The war of words over Arkansas’ casino ballot heated up this week, once the pro-casino movement requested to have a lawsuit that would block the ballot which was dismissed by the Arkansas Supreme Court.
The Arkansas Winning Initiative (AWI), which wants voters to amend the constitution to permit 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 team the Committee to Safeguard Arkansas’ Values/Stop Casinos Now filed a lawsuit into the Supreme Court planning to stop the ballot in its tracks.
Their filing contends that the language regarding the ballot misleads the public into believing that activities betting will be available at the proposed casinos, while in fact it shall be illegal. It additionally claims that the ballot fails to convey comprehensively to voters the consequences associated with 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 that it was harmed by your choice to hold the ballot vote. It claims that the Supreme Court doesn’t have jurisdiction to know the scenario.
Last week, Arkansas’ existing gaming industry, which consists of Oaklawn Racing and Gaming and Southland Park Gaming and Racing became a unlikely ally associated with 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 complete monopoly on 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 happy to expand on as he went toe-to-toe with AWI spokesman Robert Coon on the neighborhood current affairs program Arkansas Matters this week.