Revel Atlantic City will be referred to as TEN moving forward, as new owner Glenn Straub makes the property for its reopening that is grand in.
Revel Atlantic City is officially 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 name that is new.
Glenn Straub, the estate that is real who paid $82 million for the bankrupt property, has revealed the Revel will be referred to 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. ‘Our company is thrilled to share our brand because of 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 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 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 for the resort has infinity symbol beneath the TEN name.
‘Our infinity logo design represents our mission to provide the highest-rated amenities and our day to day seek to offer an infinitely perfect escape for our visitors, families and organizations,’ Landino concluded.
Straub had promised $10,000 to the person who could come up with a name that is winning the Revel overhaul. It’s unclear if TEN is the creative concept of Straub, or if it originated in the public that is general.
Simply Take TEN
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 property to feature household entertainment that is friendly.
Revel was more oriented towards the sexier and younger nightclub crowd. Former NFL star Ray Rice brought the resort much unwelcome 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 applying a ropes course and 13-story endurance track that is bicycling.
Straub planned to start 900 of Revel’s 1,399 rooms on June 15, he ended up beingn’t sure he’d want to check in ’till we obtain a chance to clean it up. though he admittedly said’ 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 make application for a certification of occupancy.
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 for 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 regarding the Taj and shuttering the property. That may leave just seven gambling enterprises in Atlantic City.
Straub’s TEN will return that quantity to eight if the city approve his gaming license application. Though he’s ready to open TEN as a hotel and resort that is recreational gaming remains a target.
‘You have to provide me personally a chance, i am trying 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 kingdom regarding the East Coast.
After a protracted and bidding that is occasionally bad-tempered with Mohegan Sun, Wynn won the bid for their state’s final remaining casino license, defeating various municipal lawsuits along the way.
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 has become getting down seriously to the business of changing a former chemical plant into a shiny brand new waterfront casino.
It is no effortless task; the block of land has been contaminated with lead, arsenic and other pollutants for decades therefore the clean-up operation 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, 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 proposal is really a breach of the 2011 legislation that legalized casino gaming into the state and laid down quotas that are strict the amount of casinos allowed in the state.
Wynn Says It’s ‘Not Fair’
There is strong help for the idea 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 myfreepokies.com 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 come in now and circumvent the law.’
The requirement to safeguard Suffolk Downs and 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 even though it has since reopened for limited racing, it relies heavily on funding from hawaii.
None of this is certainly 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 Question 1 [the ballot],’ DeLeo said. ‘ As soon as we crafted the law, my focus that is main was boosting the economy and creating jobs. Key to that work had been producing an independent Gaming Commission which conducts thorough market analyses and then makes informed decisions.
‘This slapdash proposal 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
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 lower than Carl Icahn, but New Jersey State Senate President Stephen Sweeney has the legislative power on his part, and is preparing 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 license holders proceed in closing and opening gambling enterprises.
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 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 name that is brand new new labor agreements would qualify as owners who ‘substantially closed.’
The clause makes no secret about its intended target, also though it doesn’t directly reference Carl Icahn or the Trump Taj that is soon-to-shutter Mahal. After a nasty work 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 help 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 has been in a battle that is heated the Unite Here neighborhood 54 labor union that 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, cooks, 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 interim period, 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, fundamentally lost its patience and initiated protests that are several all of which dropped on deaf ears whenever Icahn wouldn’t 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 employees. ‘We wish this story could have experienced a different ending. We can do everything we could to handle the closure in the easiest 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 new name, and with a labor force that is new. Sweeney’s bill would avoid him from doing just that.
And aside from the fact that SB 2570 is not currently regarding the books, the Senate president is making certain it would use to Icahn, by including a supply 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 out of the pockets of casino workers and strip them of benefits simply because they refuse to arrive at a labor agreement with their workers,’ Sweeney told the Press of Atlantic City this week.
Fighting Among Arkansas Casino Ballot Opponents Picking Up Steam
Jerry Cox, president of the Arkansas Family Council, believes that the pro-casino supporters of an 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, 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 permit up to three casinos in the continuing state, collected over 100,000 signatures in favor of casino gaming, sufficient to force a referendum under state law.
But early in the day 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 associated with the ballot misleads the public into believing that sports gambling will be available at the proposed casinos, while the truth is it shall be illegal. It also claims that the ballot fails to convey comprehensively to voters the consequences of this 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 has been harmed by your choice to hold the ballot vote. It claims that the Supreme Court does not have jurisdiction to know the case.
Last week, Arkansas’ existing gaming industry, which consists of Oaklawn Racing and Gaming and Southland Park Gaming and Racing became a unlikely ally for the 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 popular theme is developing within the anti-ballot movement’s rhetoric, which sees AWI as ‘out-of-state’ businessmen, 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 neighborhood affairs that are current Arkansas Matters this week.