Revel Atlantic City will be referred to as TEN moving forward, as new owner Glenn Straub prepares the property for its grand reopening in 2017.
Revel Atlantic City is formally no more. The $2.4 billion resort that opened in 2012 and then shut 29 months later on got a new owner in 2015, and now it’s obtaining 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 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 with the public and to introduce an era that is new of and entertainment.’
Straub and his Polo that is florida-based North Club development business have already 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 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 seems recommitted.
The logo that is new the resort has infinity expression under the TEN name.
‘Our infinity logo design represents our mission to provide the highest-rated amenities and our day to day endeavor to offer an infinitely perfect escape for our visitors, families and businesses,’ Landino concluded.
Straub had promised $10,000 to the person who could think of a winning title for the Revel overhaul. It’s unclear if TEN is the imaginative concept of Straub, or if it came from the average man or woman.
Simply Take TEN
Whenever TEN reopens in the very first quarter of 2017, the resort will look much different than Revel Atlantic City. Straub is transforming the mammoth property to feature family friendly activity.
Revel was more oriented towards the sexier and more youthful nightclub crowd. Former NFL star Ray Rice brought the resort much undesired 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 cycling track.
Straub planned to start 900 of Revel’s 1,399 rooms on June 15 myfreepokies.com, though he admittedly stated he was not sure he’d want to register ’till we obtain 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 make application 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 optimistic in the future of the beachfront gambling city and planned to invest greatly in its revitalization.
But come 10, Icahn is folding on the Taj and shuttering the property october. That may leave just seven gambling enterprises in Atlantic City.
Straub’s TEN will return that number to eight should the city approve his gaming permit 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 a chance, i am attempting to help,’ Straub told the CRDA this month.
Wynn Angered by Revere Slots Parlor Proposal
Steve Wynn’s troubles in Massachusetts carry on as he seeks to expand his kingdom on the East Coast.
After a protracted and occasionally bad-tempered bidding war with Mohegan Sun, Wynn won the bid for hawaii’s final remaining casino permit, defeating different municipal legal actions in the act.
Steve Wynn addresses the press in front side of a model regarding the Wynn Boston Harbor. But will Massachusetts residents vote to authorize a slots parlor just three kilometers away? (Image: Jessica Rinaldi/Boston World)
Wynn Resorts happens to be getting down to the business of changing a former chemical plant into a shiny brand new waterfront casino.
It’s no task that is easy the plot of land has been contaminated with lead, arsenic and other pollutants for many years plus the clean-up procedure is expected to cost the company around $30 million.
It’s no surprise that a ballot that is statewide 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 proposal is just a breach of the 2011 legislation that legalized casino gaming in the state and laid down strict quotas on the quantity of casinos allowed into the state.
Wynn Says It’s ‘Not Fair’
There is strong support 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 proposition that went up against Wynn in 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 now and circumvent the statutory law.’
The necessity to safeguard Suffolk Downs plus the thoroughbred horse racing 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 this is Wynn’s fault, and House Speaker Robert DeLeo, one of many architects of this 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 law, my main focus was on boosting the economy and creating jobs. Key to that effort 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 hard 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 new legislation that would overhaul casino licensing protocols in Atlantic City.
He may have about $15 billion significantly less than Carl Icahn, but nj-new Jersey State Senate President Stephen Sweeney has the legislative power on his side, and is preparing to undertake the casino developer. (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 permit 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 property in the previous five years. The definition of ‘substantially closed’ could be defined by the state’s Division of Gaming Enforcement (DGE) and provide additional powers to the gaming regulatory authority.
The writing of SB 2575 suggests that operators who intentionally close a casino with plans to later reopen the venue under a name that is new new labor contracts would qualify as owners who ‘substantially closed.’
The clause makes no key about its intended target, also 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 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 happens to be in a hot battle with the Unite Here Local 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, chefs, and housekeepers, demanded the restoration of user health insurance and pension benefits, plus higher hourly wages. A bankruptcy judge allowed Icahn to reduce certain benefits for an period that is interim in order to bring the casino resort out of the red.
But the union, which represents about 1,000 of Taj’s 2,800-employee workforce, sooner or later lost its patience and initiated several protests, all of which dropped on deaf ears when Icahn wouldn’t relent.
‘Icahn Enterprises was willing to endure a tough situation when we thought we’re able to emerge successful,’ Icahn said in a page to employees. ‘We wish this story could experienced an ending that is different. We does everything we are able to to control the closure into the best way possible.’
Sweeney in Retrograde
Some in nj-new Jersey believe Icahn is ‘warehousing’ the casino gambling license, and will reopen the resort under a fresh name, along 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 currently regarding the books, the Senate president is making sure 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 guidelines and gaming regulations in order to warehouse a permit and take money out of the pockets of casino workers and strip them of benefits since they refuse to arrive at a labor agreement using their workers,’ Sweeney told the Press of Atlantic City this week.
Fighting Among Arkansas Casino Ballot Opponents Picking Right On Up Steam
Jerry Cox, president regarding 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 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 desires voters to amend the constitution allowing up to three casinos within the continuing state, collected over 100,000 signatures in favor of casino gaming, sufficient to force a referendum under state law.
But earlier this month, anti-casino team the Committee to Safeguard Arkansas’ Values/Stop Casinos Now filed a lawsuit in the Supreme Court looking to stop the ballot in its tracks.
Their filing contends that the language of the ballot misleads the public into believing that recreations betting will be available at the proposed casinos, while the truth is it shall be illegal. It additionally claims that the ballot doesn’t 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 it happens to be harmed by the decision to hold the ballot vote. Additionally claims that the Supreme Court doesn’t have jurisdiction to listen to the actual situation.
Last week, Arkansas’ current gaming industry, which consists of Oaklawn Racing and Gaming and Southland Park Gaming and Racing became a not likely ally of this state’s anti-gambling teams, donating $109,500 to the cause. Oaklawn and Southland offer ‘skill-based’ games at their racetracks and currently enjoy a monopoly that is complete gaming in Arkansas.
A theme that is popular 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 thrilled to expand on when he went toe-to-toe with AWI spokesman Robert Coon in the neighborhood present affairs system Arkansas Matters this week.