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 and then 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 myfreepokies.com property, has revealed the Revel will be called ‘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 aided by 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 business have now 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 carpeting due to incomplete permits.
Straub seemed to bluff at forgoing his interests in revitalizing the Revel turned TEN, however now he seems recommitted.
The new logo for the resort features an infinity sign beneath the TEN name.
‘Our infinity logo design represents our mission to provide the highest-rated amenities and our everyday endeavor to offer an escape that is infinitely perfect our guests, families and companies,’ Landino concluded.
Straub had promised $10,000 to the one who could come up with a name that is winning the Revel overhaul. It is unclear if TEN is the innovative concept of Straub, or if it originated in the general public.
Just Take TEN
Whenever TEN reopens in the quarter that is first of, the resort can look much different than Revel Atlantic City. Straub is transforming the mammoth property to feature family friendly entertainment.
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 video clip 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 was not sure he’d want to sign in ‘till we obtain a chance to clean it.’ But brand New Jersey has been slow, at least based on 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 make application for a certificate of occupancy.
TEN Makes Nine, No Eight
It’s no Atlantic that is secret City 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 on 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. Which will leave just seven casinos in Atlantic City.
Straub’s TEN will return that number 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 video gaming stays a target.
‘You’ve got to offer me personally a chance, I’m attempting to help,’ Straub told the CRDA this month.
Wynn Angered by Revere Slots Parlor Proposal
Steve Wynn’s troubles in Massachusetts continue as he seeks to expand his empire on the East Coast.
After a protracted and occasionally bad-tempered bidding war with Mohegan Sun, Wynn won the bid for hawaii’s last remaining casino permit, defeating different municipal legal actions in the process.
Steve Wynn addresses the press in front side of a model of this 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 now getting down to the business of changing a former chemical plant into a shiny waterfront casino that is new.
It is no simple task; the parcel has been contaminated with lead, arsenic and other pollutants for decades and the clean-up operation is anticipated 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 in which the $2.1 billion Wynn Boston Harbor is being built has exasperated the company.
Wynn Resorts claims that the proposal is just a violation of the 2011 legislation that legalized casino gaming into the state and laid down quotas that are strict the quantity of casinos permitted within the state.
Wynn Says It’s ‘Not Fair’
There is strong support for the notion 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 within 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 arrived to Massachusetts understanding there would be three casinos and one slots parlor under state law, not three casinos and two slots parlors. Somebody shouldn’t appear in now and circumvent the law.’
The necessity to safeguard Suffolk Downs and also the horse that is thoroughbred industry ended up being 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 although it has since reopened for limited racing, it relies heavily on funding from their state.
None of this is Wynn’s fault, and House Speaker Robert DeLeo, one of many architects for the 2011 bill, agrees that the new proposal is beyond the pale.
‘I stand in opposition to matter 1 [the ballot],’ DeLeo said. ‘ As soon as we crafted the legislation, my main focus was on boosting the economy and producing jobs. Key to that work was creating an independent Gaming Commission which conducts thorough market analyses and then makes informed decisions.
‘This slapdash proposal would upset the deliberate and delicate balance we worked so difficult to create.’
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 side, and is able to accept the casino designer. (Image: Tony Kurdzuk/The Star-Ledger)
Senate Bill 2575, that has been 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 closing and opening casinos.
The bill seeks to disqualify casino license applicants in the event that entity or person behind the bid ‘substantially closed’ a casino property in the previous 5 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 authority that is regulatory.
The writing 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 contracts would qualify as owners who ‘substantially closed.’
The clause makes no key 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 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 Labor Disputes
Icahn was in a heated battle with the Unite Here Local 54 work union that 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 restoration of member health 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 destroyed its persistence and initiated protests that are several all of which fell on deaf ears whenever Icahn wouldn’t relent.
‘Icahn Enterprises was ready 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 will do everything we could to manage the closure within the way that is best possible.’
Sweeney in Retrograde
Some in 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 prevent 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 shouldn’t be able to misuse bankruptcy legislation and video gaming regulations in order to warehouse a permit or take money away from the pockets of casino workers and strip them of benefits since 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 Up Steam
Jerry Cox, president associated with the Arkansas Family Council, believes that the pro-casino supporters of an 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, while the movement that is pro-casino to have a lawsuit that would block the ballot that 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 state, collected over 100,000 signatures in favor of casino video gaming, enough to force a referendum under state law.
But earlier in the day this month, anti-casino team the Committee to Protect Arkansas’ Values/Stop Casinos Now filed a lawsuit within 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 sports gambling will be available at the proposed casinos, while the truth is it will be unlawful. It additionally claims that the ballot does not convey comprehensively to voters the consequences associated with 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 claims that the Supreme Court does not 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 teams, donating $109,500 to your 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’ entrepreneurs, preying on Arkansas.
It was this theme that Jerry Cox, president of the Arkansas Family Council was very happy to expand on when he went toe-to-toe with AWI spokesman Robert Coon in the regional current affairs program Arkansas Matters this week.