Revel Atlantic City will be called 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 simply to shut 29 months later on got a new owner in 2015, and now it’s getting a name that is new.
Glenn Straub, the property developer who paid $82 million for the bankrupt property, has revealed the Revel is going to 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. ‘we have been thrilled to share our brand because of 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 are 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 away the red carpeting due to incomplete permits.
Straub seemed to bluff at forgoing his interests in revitalizing the Revel turned TEN, nevertheless now he seems recommitted.
The new logo for the resort has infinity symbol underneath the TEN name.
‘Our infinity logo represents our mission to provide the highest-rated amenities and our daily seek to offer an escape that is infinitely perfect our guests, families and companies,’ Landino concluded.
Straub had promised $10,000 to the person who could come up with a winning name for the Revel overhaul. It is unclear if TEN is the innovative concept of Straub, or if it came from the public that is general.
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 home to feature family friendly activity.
Revel was more oriented towards the sexier and younger 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 open 900 of Revel’s 1,399 rooms on June 15, he wasn’t sure he’d want to sign in ’till we get a opportunity to clean it. though he admittedly stated’ But New Jersey has been slow, at least in accordance with Straub, in approving licenses for his operation.
The CRDA will review Straub’s latest traffic mitigation plans on September 20, and if approved, TEN could then obtain 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 of this Trump Taj Mahal.
Like Straub, billionaire Carl Icahn had remained positive on the future of the beachfront gambling city and planned to invest greatly in its revitalization.
But come October 10, Icahn is folding regarding the Taj and shuttering the property. That may leave just seven casinos in Atlantic City.
Straub’s TEN will return that true number to eight should the city approve his gaming license application. Though he’s willing to start TEN as a hotel and recreational resort, gaming continues to be a target.
‘You’ve got to give me 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 continue as he seeks to expand his empire 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 last remaining casino permit free pokies dolphin treasure, defeating different municipal legal actions in the process.
Steve Wynn addresses the press in front of a model regarding 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 waterfront casino that is new.
It is no effortless task; the parcel has been contaminated with lead, arsenic and other pollutants for many years plus the clean-up operation 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, just three kilometers from where in fact the $2.1 billion Wynn Boston Harbor is being built has exasperated the company.
Wynn Resorts claims that the proposition 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 permitted within 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 is situated. The racetrack partnered with Mohegan Sun for the casino proposal 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. Somebody shouldn’t come in now and circumvent the statutory law.’
The necessity to safeguard Suffolk Downs and the thoroughbred horse rushing 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 whenever Wynn won the license, and even though it has since reopened for limited racing, it relies heavily on funding from their state.
‘Slapdash Proposal’
None of this might be Wynn’s fault, and House Speaker Robert DeLeo, one of the architects of this 2011 bill, agrees that the proposal that is new 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 producing jobs. Key to that effort had been producing 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 difficult to generate.’
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 not as much as Carl Icahn, but nj-new Jersey State Senate President Stephen Sweeney has the legislative power on their side, and is preparing to accept 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 current law on how license holders continue in conclusion and opening casinos.
The bill seeks to disqualify casino license applicants if the entity or person behind the bid ‘substantially closed’ a casino property in the past five years. The definition of ‘substantially shut’ could be defined by the state’s Division of Gaming Enforcement (DGE) and present extra 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 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 soon-to-shutter Trump Taj 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 get rid of $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 has been in a battle that is heated the Unite Here Local 54 work union that actually 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, cooks, and housekeepers, demanded the renovation of member health and pension benefits, plus higher wages that are hourly. A bankruptcy judge allowed Icahn to reduce particular benefits for an interim duration, 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, fundamentally destroyed its persistence and initiated protests that are several all of which dropped on deaf ears whenever Icahn would not relent.
‘Icahn Enterprises was willing to endure a situation that is tough we thought we could emerge successful,’ Icahn said in a letter to employees. ‘We wish this story could have had a different ending. We can do everything we can to manage the closure in the way that is best possible.’
Sweeney in Retrograde
Some in nj-new Jersey believe Icahn is ‘warehousing’ the casino gambling license, and certainly will reopen the resort under a new title, and with a brand new work force. Sweeney’s bill would avoid him from doing just that.
And irrespective of the actual fact that SB 2570 isn’t currently regarding the books, the Senate president is making yes it would apply 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 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 come to a labor agreement using 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 pro-casino movement asked for to have a lawsuit that would block the ballot that was dismissed by the Arkansas Supreme Court.
The Arkansas Winning Initiative (AWI), which wants voters to amend the constitution to allow up to three casinos in the state, collected over 100,000 signatures in favor of casino video gaming, enough to force a referendum under state legislation.
But previously this month, anti-casino group the Committee to Protect Arkansas’ Values/Stop Casinos Now filed case into the Supreme Court looking to stop the ballot in its tracks.
Their filing contends that the language for the ballot misleads the public into believing that recreations betting will be available at the proposed casinos, while the truth is it shall be unlawful. It also claims that the ballot fails to convey comprehensively to voters the consequences of this measure.
Gaming Monopoly
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. Additionally claims that the Supreme Court won’t have jurisdiction to know the way it is.
Last week, Arkansas’ current gaming industry, which consists of Oaklawn Racing and Gaming and Southland Park Gaming and Racing became a unlikely ally associated with 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 complete monopoly on 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 as he went toe-to-toe with AWI spokesman Robert Coon on the neighborhood affairs that are current Arkansas Matters this week.