
Revel Atlantic City will be called 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 close 29 months later 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 will likely be 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 an era that is new of and entertainment.’
Straub and his Polo that is florida-based North Club development company were 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, however now he appears recommitted.
The logo that is new the resort has infinity expression beneath the TEN name.
‘Our infinity logo represents our mission to provide the highest-rated amenities and our day to day endeavor to offer an escape that is infinitely perfect our guests, families and organizations,’ Landino concluded.
Straub had promised $10,000 to the one who could think of a winning name for the Revel overhaul. It is unclear if TEN is the creative concept of Straub, or if it originated in the public that is general.
Simply Take TEN
When 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 members 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 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 cycling track.
Straub planned to start 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 opportunity to clean it up.’ But New Jersey has been slow, at least in accordance with Straub, in approving permits for his 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 secret Atlantic City has been struggling. Four casino resorts have actually closed since 2014, and a fifth is coming by way of this Trump Taj Mahal.
Like Straub, billionaire Carl Icahn had remained optimistic on the future of the beachfront city that is gambling planned to invest greatly in its revitalization.
But come 10, Icahn is folding on the Taj and shuttering the property october. Which will leave just seven casinos in Atlantic City.
Straub’s TEN will return that true quantity to eight if the city approve his gaming license application. Though he’s ready to start TEN as a hotel and resort that is recreational gaming remains a target.
‘You’ve got to provide me a chance, I’m wanting 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 empire in the East Coast.
After a protracted and occasionally bad-tempered putting in a bid war with Mohegan Sun, Wynn won the bid for the state’s last remaining casino permit, defeating various municipal lawsuits in the process.
Steve Wynn addresses the press in front side of a model associated with 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 currently getting down to the business of transforming a former chemical plant into a shiny new waterfront casino.
It is no easy task; the parcel has been contaminated with lead, arsenic and other pollutants for decades and the clean-up procedure is anticipated to cost the company around $30 million.
It’s no shock that a statewide ballot that would authorize a slots parlor in Revere, simply 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 proposition is a breach of the 2011 legislation that legalized casino gaming within the state and laid https://myfreepokies.com/dolphin-treasure/ down quotas that are strict the total amount of casinos permitted into the state.
Wynn Says It’s ‘Not Fair’
There is strong help for the thought 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 within 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. Someone shouldn’t come in now and circumvent the statutory law.’
The requirement to protect Suffolk Downs and the thoroughbred horse rushing industry was 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 though it has since reopened for limited racing, it relies heavily on funding from hawaii.
‘Slapdash Proposal’
None of that is Wynn’s fault, and House Speaker Robert DeLeo, one of the architects of the 2011 bill, agrees that the proposal that is new beyond the pale.
‘I stand in opposition to Question 1 [the ballot],’ DeLeo said. ‘ When 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 market that is thorough and then makes informed decisions.
‘This slapdash proposal would upset the deliberate and delicate balance we worked so hard to produce.’
New Jersey Senate President Stephen Sweeney Goes After Carl Icahn in New Casino Regulatory Bill
Nj-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 nj-new Jersey State Senate President Stephen Sweeney has the legislative power on their part, and is preparing to accept 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 law that is current how license holders proceed in conclusion and opening gambling enterprises.
The bill seeks to disqualify casino license applicants if the person or entity behind the bid ‘substantially closed’ a casino home in the past five years. The definition of ‘substantially closed’ will be defined by the state’s Division of Gaming Enforcement (DGE) and give extra powers to the gaming authority that is regulatory.
The text 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 straight 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 will mark Atlantic City’s fifth casino closing since 2014. Icahn says he stands to lose $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 heated battle with the Unite Here neighborhood 54 labor union that works at the Trump Taj Mahal. The billionaire developer acquired the flailing property in by purchasing Trump Entertainment Resorts february.
The union, which represents bartenders, wait staff, cooks, and housekeepers, demanded the renovation of user health insurance and pension benefits, plus higher hourly wages. A bankruptcy judge allowed Icahn to reduce particular benefits for an period that is interim 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, ultimately destroyed its patience and initiated protests that are several all of which dropped on deaf ears when Icahn would not relent.
‘Icahn Enterprises was ready 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 experienced a different ending. We will do everything we can to manage 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 fresh name, sufficient reason for a labor force that is new. Sweeney’s bill would prevent him from doing just that.
And regardless of the fact that SB 2570 isn’t presently regarding the books, the Senate president is making certain 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 rules and gaming regulations in purchase to warehouse a permit and take cash away from the pockets of casino workers and strip them of benefits given that they will not arrived 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 of this 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, once 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 wishes voters to amend the constitution to allow up to three casinos in the continuing state, collected over 100,000 signatures in favor of casino video gaming, enough to force a referendum under state legislation.
But earlier 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 activities gambling would be available at the proposed casinos, while in fact it shall be unlawful. It additionally claims that the ballot does not convey comprehensively to voters the consequences for 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 it is harmed by your choice to hold the ballot vote. Additionally claims that the Supreme Court won’t have jurisdiction to hear the case.
Last week, Arkansas’ existing gaming industry, which consists of Oaklawn Racing and Gaming and Southland Park Gaming and Racing became a not likely ally of the state’s anti-gambling groups, donating $109,500 towards the cause. Oaklawn and Southland offer ‘skill-based’ gambling at their racetracks and currently enjoy a monopoly that is complete gaming in Arkansas.
A popular theme is developing within the anti-ballot motion’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 thrilled to expand on as he went toe-to-toe with AWI spokesman Robert Coon in the local present affairs program Arkansas Matters this week.
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