Revel Atlantic City will be called TEN moving forward, as new owner Glenn Straub prepares the property for its reopening that is grand in.
Revel Atlantic City is officially no more. The $2.4 billion resort that opened in 2012 only to close 29 months later 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 referred to as ‘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 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 away the red carpet due to incomplete permits.
Straub seemed to bluff at forgoing his interests in revitalizing the Revel turned TEN, nevertheless now he appears recommitted.
The logo that is new the resort features an infinity expression beneath the TEN name.
‘Our infinity logo represents our mission to provide the highest-rated amenities and our everyday try 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 winning name for the Revel overhaul. It’s unclear if TEN is the innovative 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 will appear much different than Revel Atlantic City. Straub is transforming the mammoth property to feature household entertainment that is friendly.
Revel was more oriented towards the sexier and younger nightclub crowd. Former NFL star Ray Rice brought the resort much unwanted 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 open 900 of Revel’s 1,399 rooms on June 15, he ended up beingn’t sure he’d wish to check in ‘till we get a possiblity to clean it. though he admittedly said’ But brand New Jersey has been slow, at least according to Straub, in approving licenses for his 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 of the Trump Taj Mahal.
Like Straub, billionaire Carl Icahn had remained positive in the future of the beachfront gambling city and planned to invest heavily in its revitalization.
But come October 10, Icahn is folding regarding the Taj and shuttering the home. Which will leave just seven gambling enterprises in Atlantic City.
Straub’s TEN will return that quantity to eight if the city approve his gaming permit application. Though he’s prepared to start TEN as a hotel and leisure resort, gaming remains a target.
‘You’ve got to give me a chance, I’m attempting to assist,’ 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 empire in 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 different municipal legal actions along the way.
Steve Wynn addresses the press in front of a model myfreepokies.com for the Wynn Boston Harbor. But will Massachusetts residents vote to authorize a slots parlor just three kilometers away? (Image: Jessica Rinaldi/Boston Globe)
Wynn Resorts has become getting right down to the business of changing a former chemical plant into a shiny waterfront casino that is new.
It’s no easy task; the block of land has been contaminated with lead, arsenic and other pollutants for decades and also the clean-up operation 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, just 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 proposition is a violation of the 2011 legislation that legalized casino gaming into the state and laid down quotas that are strict the quantity of casinos allowed in 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 based. The racetrack partnered with Mohegan Sun for the casino proposal 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 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 requirement to safeguard Suffolk Downs therefore the thoroughbred horse racing 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 though it has since reopened for limited racing, it relies heavily on funding from their state.
None of this is certainly Wynn’s fault, and House Speaker Robert DeLeo, one of many architects associated with the 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 law, my main focus ended up being on boosting the economy and creating 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 balance that is delicate worked so hard to create.’
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 not as much as Carl Icahn, but nj-new Jersey State Senate President Stephen Sweeney has the legislative power on his part, and is able to take on the casino designer. (Image: Tony Kurdzuk/The Star-Ledger)
Senate Bill 2575, which 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 continue 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 previous 5 years. The definition of ‘substantially shut’ will be defined by the state’s Division of Gaming Enforcement (DGE) and give additional powers to the gaming authority that is regulatory.
The writing 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 secret about its intended target, also though it doesn’t directly 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 lose $100 million on the entire undertaking, 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 Work Disputes
Icahn was in a hot battle with the Unite Here Local 54 work union that actually works during the Trump Taj Mahal. The billionaire developer acquired the flailing property in February by purchasing Trump Entertainment Resorts.
The union, which represents bartenders, wait staff, chefs, and housekeepers, demanded the renovation of user health insurance and pension benefits, plus higher hourly wages. A bankruptcy judge allowed Icahn to reduce particular benefits for the period that is interim 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, eventually lost 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 tough situation when we thought we’re able to emerge successful,’ Icahn said in a page to workers. ‘We wish this story could have experienced a different ending. We will do everything we can to control the closure within the way that is best possible.’
Sweeney in Retrograde
Some in nj-new Jersey believe Icahn is ‘warehousing’ the casino gambling license, and can reopen the resort under a fresh title, sufficient reason for a labor force that is new. Sweeney’s bill would prevent him from doing just that.
And irrespective of the very fact that SB 2570 is not currently regarding the books, the Senate president is making certain it would apply to Icahn, by including a supply that makes the legislation retroactive to 1, 2016 january.
‘Casino owners shouldn’t be able to misuse bankruptcy regulations and video gaming regulations in order to warehouse a license and take cash away from the pockets of casino workers and strip them of benefits since they refuse to come to a labor agreement with 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 an 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, since the movement that is pro-casino to have a lawsuit that would block the ballot that has been dismissed by the Arkansas Supreme Court.
The Arkansas Winning Initiative (AWI), which desires 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, sufficient to force a referendum under state law.
But early 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 associated with the ballot misleads the public into believing that activities betting would be available at the proposed casinos, while in reality it shall be illegal. It additionally claims that the ballot does not convey comprehensively to voters the consequences regarding 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 does not have jurisdiction to know the actual situation.
Last week, Arkansas’ current gaming industry, which consists of Oaklawn Racing and Gaming and Southland Park Gaming and Racing became an ally that is unlikely of 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 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 very happy to expand on as he went toe-to-toe with AWI spokesman Robert Coon on the local current affairs system Arkansas Matters this week.