Revel Atlantic City will be known as TEN moving forward, as new owner Glenn Straub prepares the property for its grand reopening in 2017.
Revel Atlantic City is officially no more. The $2.4 billion resort that opened in 2012 only to close 29 months later on got a new owner in 2015, and now it’s obtaining a name that is new.
Glenn Straub, the estate that is real who paid $82 million for the bankrupt property, has revealed the Revel are going to be called ‘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 general public and to introduce a new period of resort and entertainment.’
Straub and his Florida-based Polo North Country Club development company 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 hotel-only center, but was forced to postpone rolling out the red carpeting due to incomplete permits.
Straub seemed to bluff at forgoing his interests in revitalizing the Revel turned TEN, however now he appears 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 daily endeavor to offer an infinitely perfect escape for our guests, families and businesses,’ Landino concluded.
Straub had promised $10,000 to the person who could think of a name that is winning the Revel overhaul. It’s unclear if TEN is the imaginative concept of Straub, or if it originated in the general public.
Simply Take TEN
When 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 members friendly entertainment.
Revel was more oriented towards the sexier and younger nightclub crowd. Former NFL star Ray Rice brought the resort much undesirable 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 track that is bicycling.
Straub planned to open 900 of Revel’s 1,399 rooms on June 15, he wasn’t sure he’d desire to check in ‘till we get yourself a chance to clean it. though he admittedly stated’ 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 then apply for a certificate of occupancy if approved, TEN could.
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 associated with the Trump Taj Mahal.
Like Straub, billionaire Carl Icahn had remained positive 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 home. That will leave just seven casinos in Atlantic City.
Straub’s TEN will return that true number to eight should the city approve his gaming permit application. Though he’s prepared to start TEN as a hotel and resort that is recreational video gaming stays a target.
‘You’ve got to provide me personally a chance, I’m wanting to assist,’ 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 kingdom on 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 final remaining casino permit, defeating various municipal legal actions in the act.
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 kilometers away? (Image: Jessica Rinaldi/Boston World)
Wynn Resorts has become getting right down to the business of transforming 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 many years and also the clean-up procedure is anticipated to cost the company around $30 million.
It’s no shock that a ballot that is statewide would authorize a slots parlor in Revere, simply three miles from in which the $2.1 billion Wynn Boston Harbor is being built has exasperated the company.
Wynn Resorts claims that the proposal is really a violation of the 2011 legislation that legalized casino gaming within the state and laid down strict quotas on the total amount of casinos allowed into the state.
Wynn Says It’s ‘Not Fair’
There is strong help 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 in the licensing bid, and many felt betrayed when juegos gratis dolphin treasure slots 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. Some one shouldn’t can be found in now and circumvent the law.’
The requirement to protect Suffolk Downs therefore the thoroughbred horse racing industry had been certainly 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 the state.
None of this is Wynn’s fault, and House Speaker Robert DeLeo, one of many architects of this 2011 bill, agrees that the new proposal is beyond the pale.
‘I stand in opposition to matter 1 [the ballot],’ DeLeo said. ‘ When we crafted the legislation, my focus that is main was boosting the economy and creating jobs. Key to that effort ended up being 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 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 new legislation that 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 power that is legislative their side, and is preparing to take on 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 proceed in conclusion 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 home in the past five years. The definition of ‘substantially shut’ would be defined by the state’s Division of Gaming Enforcement (DGE) and provide additional powers to the gaming regulatory authority.
The written 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 contracts 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 work 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 lose $100 million on the entire undertaking, 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 stated.
Ongoing Labor Disputes
Icahn is in a battle that is heated the Unite Here regional 54 labor union that actually works during 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 restoration of user health and pension benefits, plus higher hourly wages. A bankruptcy judge allowed Icahn to reduce specific benefits for the period that is interim in order to bring the casino resort away from the red.
But the union, which represents about 1,000 of Taj’s 2,800-employee workforce, ultimately lost its persistence and initiated several protests, all of which fell on deaf ears whenever Icahn wouldn’t relent.
‘Icahn Enterprises was willing to endure a situation that is tough we thought we’re able to emerge successful,’ Icahn said in a page to workers. ‘We wish this story could have experienced an ending that is different. We does everything we are able to to manage the closure in the easiest way 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, 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 yes it would apply to Icahn, by including a supply that makes the legislation retroactive to 1, 2016 january.
‘Casino owners really should not be able to misuse bankruptcy rules and video gaming regulations in order to warehouse a license or take cash away from the pockets of casino workers and strip them of benefits simply because they refuse to visited a labor agreement using their workers,’ Sweeney told the Press of Atlantic City this week.
Fighting Among Arkansas Casino Ballot Opponents Picking Right 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 entrepreneurs from Missouri. (Image: thv11.com)
The war of words over Arkansas’ casino ballot heated up this week, due to the fact pro-casino motion asked for 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 within the continuing state, collected over 100,000 signatures in favor of casino gaming, sufficient 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 regarding the ballot misleads the public into believing that recreations betting is available at the proposed casinos, while in reality it will be unlawful. It additionally claims that the ballot doesn’t convey comprehensively to voters the consequences for the 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 also claims that the Supreme Court won’t have jurisdiction to listen to the actual situation.
Last week, Arkansas’ existing gaming industry, which consists of Oaklawn Racing and Gaming and Southland Park Gaming and Racing became a unlikely ally regarding the state’s anti-gambling teams, 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 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 thrilled to expand on as he went toe-to-toe with AWI spokesman Robert Coon in the local affairs that are current Arkansas Matters this week.