Revel Atlantic City will be referred to as TEN moving forward, as new owner Glenn Straub prepares 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 only to close 29 months later got a new owner in 2015, and now it’s getting a new name.
Glenn Straub, the real estate developer who paid $82 million for the bankrupt property, has revealed the Revel are known 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. ‘We are 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 are at odds with New Jersey’s Casino Reinvestment free pokies online dolphin treasure to play 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, but now he appears recommitted.
The logo that is new the resort has infinity symbol beneath the TEN name.
‘Our infinity logo design represents our mission to provide the highest-rated amenities and our daily try to offer an infinitely perfect escape for our guests, families and companies,’ Landino concluded.
Straub had promised $10,000 to the person who could come up with a winning title for the Revel overhaul. It is unclear if TEN is the innovative concept of Straub, or if it originated from the public that is general.
Whenever TEN reopens in the first quarter of 2017, 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 younger nightclub crowd. Former NFL star Ray Rice brought the resort much unwanted publicity when video 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, though he admittedly stated he wasn’t sure he’d want to check in ’till we get a possiblity to clean it.’ 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 then apply for a certificate of occupancy if approved, TEN could.
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 of the Trump Taj Mahal.
Like Straub, billionaire Carl Icahn had remained positive regarding the future of the beachfront gambling city and planned to invest heavily in its revitalization.
But come October 10, Icahn is folding on the Taj and shuttering the property. Which will leave just seven casinos in Atlantic City.
Straub’s TEN will return that number to eight should the city approve his gaming permit application. Though he’s willing to open TEN as a hotel and resort that is recreational video gaming continues to be a target.
‘You have to give me personally a chance, I’m trying to assist,’ 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 bidding that is occasionally bad-tempered with Mohegan Sun, Wynn won the bid for the state’s final remaining casino permit, defeating various municipal legal actions in the act.
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 Globe)
Wynn Resorts has become getting right down to the business of transforming 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 therefore the clean-up procedure is expected to cost the company around $30 million.
It’s no shock that a ballot that is statewide would authorize a slots parlor in Revere, simply three kilometers from in which the $2.1 billion Wynn Boston Harbor is being built has exasperated the business.
Wynn Resorts claims that the proposition is just a violation of the 2011 legislation that legalized casino gaming within the state and laid down strict quotas on the amount of casinos allowed 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 based. 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 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 body shouldn’t are available in now and circumvent the law.’
The necessity to safeguard Suffolk Downs and also the horse that is thoroughbred industry was certainly 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 permit, and it relies heavily on funding from the state although it has since reopened for limited racing.
None of that is Wynn’s fault, and House Speaker Robert DeLeo, one of many architects of 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 law, my focus that is main was boosting the economy and creating jobs. Key to that work had been creating 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 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 legislation that is new would overhaul casino licensing protocols in Atlantic City.
He may have about $15 billion less than Carl Icahn, but New Jersey State Senate President Stephen Sweeney has the legislative power on their side, and is able to take on the casino designer. (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 current law on how permit holders continue in conclusion and opening casinos.
The bill seeks to disqualify casino license applicants in the event that person or entity 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 written text of SB 2575 implies that operators who intentionally close a casino with plans to later reopen the location under a new name with new labor agreements would qualify as owners who ‘substantially closed.’
The clause makes no secret about its intended target, even though it doesn’t straight 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 get rid of $100 million on the entire undertaking, but other people believe he has more sinister plans.
‘This bill encourages casino owners to help keep their properties open and rather rebuild Atlantic City than keep their license and throw thousands of families to the curb,’ Sweeney stated.
Ongoing Work Disputes
Icahn is in a hot battle with the Unite Here Local 54 labor union that actually works at 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, chefs, and housekeepers, demanded the renovation of user health insurance and pension benefits, plus higher wages that are hourly. A bankruptcy judge allowed Icahn to reduce specific benefits for an period that is interim in purchase to bring the casino resort away from the red.
But the union, which represents about 1,000 of Taj’s 2,800-employee workforce, eventually destroyed its persistence and initiated protests that are several all of which fell on deaf ears when Icahn wouldn’t relent.
‘Icahn Enterprises was willing to endure a situation that is tough we thought we could emerge successful,’ Icahn said in a page to workers. ‘We wish this story could have experienced an ending that is different. We will do everything we could to handle the closure into the best way 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 title, and with a labor force that is new. Sweeney’s bill would avoid him from doing just that.
And no matter the very fact that SB 2570 is not presently on the books, the Senate president is making yes it would apply to Icahn, by including a supply that makes the legislation retroactive to January 1, 2016.
‘Casino owners must not be able to misuse bankruptcy guidelines and gaming regulations in purchase to warehouse a license and take money out of the pockets of casino workers and strip them of benefits simply because they will not arrive at a labor agreement with 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 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, since 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 wishes voters to amend the constitution to permit up to three casinos into the state, collected over 100,000 signatures in favor of casino gaming, sufficient to force a referendum under state legislation.
But previously this month, anti-casino group the Committee to Safeguard Arkansas’ Values/Stop Casinos Now filed case within the Supreme Court aiming to stop the ballot in its tracks.
Their filing contends that the language associated with the ballot misleads the public into believing that recreations betting could be available at the proposed casinos, while the truth is it will be illegal. It additionally claims that the ballot fails to convey comprehensively to voters the consequences associated with the measure.
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 actual situation.
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 groups, donating $109,500 towards the cause. Oaklawn and Southland offer ‘skill-based’ games at their racetracks and currently enjoy a complete monopoly on gaming in Arkansas.
A popular theme is 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 thrilled to expand on when he went toe-to-toe with AWI spokesman Robert Coon regarding the regional current affairs system Arkansas Matters this week.