
Revel Atlantic City will be known as 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 and then close 29 months later on got a new owner in 2015, and now it’s obtaining a new name.
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 have been thrilled to share our brand utilizing the general public and to introduce a new period of resort and entertainment.‘
Straub and his Florida-based Polo North Country Club development company 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 down 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 logo that is new the resort has infinity symbol underneath the TEN name.
‚Our infinity logo design represents our mission to provide the highest-rated amenities and our daily endeavor to offer an escape that is infinitely perfect our visitors, families and organizations,‘ 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 creative concept of Straub, or if it originated from the public that is general.
Take TEN
When TEN reopens in the quarter that is first of, the resort will look much different than Revel Atlantic City. Straub is transforming the mammoth property to feature family members 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 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 bicycling track.
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 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 if approved, TEN could then obtain a certification 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 regarding 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 property. That will leave just seven casinos in Atlantic City.
Straub’s TEN will return that true quantity to eight if the city approve his gaming permit application. Though he’s willing to open TEN as a hotel and resort that is recreational gaming continues to be a target.
‚You have to offer 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 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 license, defeating various municipal lawsuits in the process.
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 Globe)
Wynn Resorts is currently getting down seriously to the business of changing a former chemical plant into a shiny new waterfront casino.
It is no easy task; the plot of land has been contaminated with lead, arsenic and other pollutants for decades 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, just three kilometers from where in actuality the $2.1 billion Wynn Boston Harbor is being built has exasperated the organization.
Wynn Resorts claims that the proposal is really a breach of the 2011 legislation that legalized casino gaming in the state and laid down quotas that are strict the total amount of casinos permitted within 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 relies. 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 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 statutory law.‘
The need to safeguard Suffolk Downs and also the horse that is thoroughbred 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 permit, and it relies heavily on funding from the state although it has since reopened for limited racing.
‚Slapdash Proposal‘
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 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 work was creating an independent Gaming Commission which conducts market that is thorough and then makes informed decisions.
‚This slapdash proposition would upset the deliberate and balance that is delicate worked so hard to produce.‘
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 power that is legislative their part, and is preparing to accept 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 current law on how license holders proceed in conclusion and opening casinos.
The bill seeks to disqualify casino license applicants if the person or entity behind the bid ‚substantially closed‘ a casino property in the past five years. The definition of ‚substantially shut‘ would be defined by the state’s Division of Gaming Enforcement (DGE) and give extra powers to the gaming regulatory authority.
The text of SB 2575 suggests that operators who intentionally close a casino with plans to later reopen the place under a name that is brand new new labor agreements would qualify as owners who ‚substantially closed.‘
The clause makes no key about its intended target, also though it doesn’t straight 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 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 help 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 was in a hot battle with the Unite Here regional 54 labor 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 member health insurance and pension benefits, plus higher hourly wages. A bankruptcy judge allowed Icahn to reduce particular benefits for an interim duration, 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 fell on deaf ears when Icahn would not relent.
‚Icahn Enterprises was willing to endure a tough situation when we thought we could emerge successful,‘ Icahn said in a letter to workers. ‚We wish this story could have had a different ending. We will do everything we could to handle the closure into the way that is best possible.‘
Sweeney in Retrograde
Some in nj-new Jersey believe Icahn is ‚warehousing‘ the casino gambling license, and certainly will reopen the resort under a fresh name, and with a labor force that is new. Sweeney’s bill would avoid him from doing just that.
And regardless of the fact that SB 2570 isn’t currently regarding 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 really should not be able to misuse bankruptcy rules and gaming regulations in purchase to warehouse a permit and take money away from the pockets of casino workers and strip them of benefits simply because they refuse to come to a labor agreement making use of 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, as the pro-casino motion requested 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 allowing up to three casinos within the state, collected over 100,000 signatures in favor of casino gaming, sufficient to force a referendum under state legislation.
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 this ballot misleads the public into believing that sports betting could be available at the proposed casinos, while in reality it shall be illegal. It also 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 so juegos gratis dolphin treasure slots it was harmed by your choice to hold the ballot vote. Additionally claims that the Supreme Court won’t have jurisdiction to know the way it is.
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 state’s anti-gambling groups, donating $109,500 to your cause. Oaklawn and Southland offer ‚skill-based‘ games 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 pleased to expand on as he went toe-to-toe with AWI spokesman Robert Coon regarding the regional present affairs program Arkansas Matters this week.