Revel Atlantic City will be known as TEN moving forward, as new owner Glenn Straub prepares the property for its reopening that is grand in.
Revel Atlantic City is formally no more. The $2.4 billion resort that opened in 2012 and then close 29 months later on got a new owner in 2015, and now it’s obtaining a name that is new.
Glenn Straub, the property developer who paid $82 million for the bankrupt property, has revealed the Revel will likely be 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 myfreepokies.com City. ‘Our company is thrilled to share our brand with all the public and to introduce a new period of resort and entertainment.’
Straub and his Polo that is florida-based North Club development company have 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 hotel-only facility, 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, however now he seems recommitted.
The logo that is new the resort has infinity symbol beneath the TEN name.
‘Our infinity logo represents our mission to provide the highest-rated amenities and our everyday endeavor to offer an infinitely perfect escape for our guests, families and organizations,’ Landino concluded.
Straub had promised $10,000 to the person who could come up with a name that is winning the Revel overhaul. It’s unclear if TEN is the innovative concept of Straub, or if it came from 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 household entertainment that is friendly.
Revel was more oriented towards the sexier and more youthful nightclub crowd. Former NFL star Ray Rice brought the resort much undesired 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 applying a ropes course and 13-story endurance track that is bicycling.
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 sign in ’till we get a chance to clean it up.’ But brand 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 Trump Taj Mahal.
Like Straub, billionaire Carl Icahn had remained optimistic in the future of the beachfront city that is gambling planned to invest greatly in its revitalization.
But come October 10, Icahn is folding in the Taj and shuttering the home. Which will leave just seven casinos in Atlantic City.
Straub’s TEN will return that true quantity to eight should the city approve his gaming license application. Though he’s willing to open TEN as a hotel and leisure resort, gaming stays a target.
‘You have to provide me a chance, I’m 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 kingdom regarding the East Coast.
After a protracted and occasionally bad-tempered putting in a bid war with Mohegan Sun, Wynn won the bid for their state’s last remaining casino license, defeating various municipal legal actions in the act.
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 World)
Wynn Resorts happens to be getting right down to the business of changing a former chemical plant into a shiny waterfront casino that is new.
It is no task that is easy the block of land has been contaminated with lead, arsenic and other pollutants for decades and also 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 actuality the $2.1 billion Wynn Boston Harbor is being built has exasperated the business.
Wynn Resorts claims that the proposal is a breach of the 2011 legislation that legalized casino gaming within the state and laid down strict quotas on the amount of casinos allowed in 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 proposition that went up against Wynn into 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 arrived to Massachusetts understanding there would be three casinos and one slots parlor under state law, not three casinos and two slots parlors. Someone shouldn’t also come in now and circumvent the statutory law.’
The need to safeguard Suffolk Downs and 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 when Wynn won the license, and although it has since reopened for limited racing, it relies heavily on funding from the state.
None of this might be 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. ‘ As soon as we crafted the law, my main focus had been 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 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 new legislation that 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 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 gambling enterprises.
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 give extra powers to the gaming authority that is regulatory.
The written text of SB 2575 implies that operators who intentionally close a casino with plans to later reopen the venue under a name that is brand new new labor agreements would qualify as owners who ‘substantially closed.’
The clause makes no secret about its intended target, also 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 get rid of $100 million on the entire undertaking, but other people believe he has more sinister plans.
‘This bill encourages casino owners to keep their properties open and rebuild Atlantic City instead than keep their license and throw thousands of families to the curb,’ Sweeney said.
Ongoing Work Disputes
Icahn happens to be in a hot battle with the Unite Here Local 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 restoration of member health insurance and pension benefits, plus higher wages that are hourly. A bankruptcy judge allowed Icahn to reduce particular benefits for an interim period, 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, sooner or later destroyed its persistence and initiated several protests, all of which dropped on deaf ears when Icahn would not relent.
‘Icahn Enterprises was willing to endure a situation that is tough we thought we’re able to emerge successful,’ Icahn said in a letter to employees. ‘We wish this story could have experienced a different ending. We does everything we can to control the closure into 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 new title, and with a new labor pool. Sweeney’s bill would avoid him from doing just that.
And irrespective of the actual fact that SB 2570 isn’t currently in the books, the Senate president is making sure it would apply to Icahn, by including a provision that makes the legislation retroactive to January 1, 2016.
‘Casino owners shouldn’t be able to misuse bankruptcy rules and video gaming regulations in purchase to warehouse a license and take money away from the pockets of casino workers and strip them of benefits given that they will not arrived at a labor agreement using their workers,’ Sweeney told the Press of Atlantic City this week.
Fighting Among Arkansas Casino Ballot Opponents Picking Up Steam
Jerry Cox, president associated with 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, as the movement that is pro-casino to have a lawsuit that would block the ballot which was dismissed by the Arkansas Supreme Court.
The Arkansas Winning Initiative (AWI), which wishes voters to amend the constitution to permit up to three casinos into the state, collected over 100,000 signatures in favor of casino 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 for the ballot misleads the public into believing that activities betting will be available at the proposed casinos, while in fact it shall be illegal. 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 because it has not shown so it has been harmed by your decision to hold the ballot vote. It also 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 the cause. Oaklawn and Southland offer ‘skill-based’ games at their racetracks and currently enjoy a complete monopoly on gaming in Arkansas.
A theme that is popular 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 pleased to expand on when he went toe-to-toe with AWI spokesman Robert Coon in the neighborhood affairs that are current Arkansas Matters this week.