Revel Atlantic City will be referred to 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 is 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 with the public and to introduce an era that is new of and entertainment.’
Straub and his Polo that is florida-based North Club development company were 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 center, but was forced to postpone rolling down the red carpet 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 design for the resort has infinity expression 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 visitors, families and organizations,’ Landino concluded.
Straub had promised $10,000 to the one who could come up with a name that is winning the Revel overhaul. It’s unclear if TEN is the creative concept of Straub, or if it originated in the public.
When TEN reopens in the quarter that is first of, the resort will look much different than Revel Atlantic City. Straub is transforming the mammoth home to feature household 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 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 bicycling track.
Straub planned to open 900 of Revel’s 1,399 rooms on June 15, though he admittedly said he was not sure he’d want to check in ’till we get yourself a chance to clean it up.’ But New Jersey has been slow, at least based on Straub, in approving permits for their 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 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 heavily in its revitalization.
But come 10, Icahn is folding on the Taj and shuttering the property october. That will leave just seven gambling enterprises in Atlantic City.
Straub’s TEN will return that 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 gaming stays a target.
‘You have to give me a chance, I’m trying 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 in the East Coast.
After a protracted and occasionally bad-tempered bidding war with Mohegan Sun, Wynn won the bid for the state’s last remaining casino permit, defeating various municipal legal actions in the process.
Steve Wynn addresses the press in front side of a model of the Wynn Boston Harbor. But will Massachusetts residents vote to authorize a slots parlor just three miles away? (Image: Jessica Rinaldi/Boston World)
Wynn Resorts is now getting down to the business of changing a former chemical plant into a shiny brand new waterfront casino.
It’s no task that is easy the parcel has been contaminated with lead, arsenic and other pollutants for many years as well as the clean-up procedure is anticipated to cost the company around $30 million.
It’s no surprise that a statewide ballot that would authorize a slots parlor in Revere, just three kilometers from where the $2.1 billion Wynn Boston Harbor is being built has exasperated the business.
Wynn Resorts claims that the proposition is just a breach of the 2011 legislation that legalized casino gaming into the state and laid down quotas that are strict the amount of casinos allowed in 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 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 came into Massachusetts understanding there would be three casinos and one slots parlor under state law, not three casinos and two slots parlors. Someone shouldn’t are available now and circumvent the law.’
The need to protect myfreepokies.com Suffolk Downs therefore the thoroughbred horse racing industry was 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 it relies heavily on funding from the state although it has since reopened for limited racing.
None of this is certainly Wynn’s fault, and House Speaker Robert DeLeo, among the architects associated with the 2011 bill, agrees that the new proposal is beyond the pale.
‘I stand in opposition to Question 1 [the ballot],’ DeLeo said. ‘ When we crafted the law, my main focus ended up being on boosting the economy and producing jobs. Key to that effort was producing an independent Gaming Commission which conducts market that is thorough and then makes informed decisions.
‘This slapdash proposal would upset the deliberate and delicate balance we worked so hard to create.’
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 his part, and is ready to undertake 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 home 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 location 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 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 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 keep their properties open and rebuild Atlantic City rather than keep their license and throw thousands of families to the curb,’ Sweeney said.
Ongoing Work Disputes
Icahn was in a battle that is heated the Unite Here Local 54 work union that 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, chefs, and housekeepers, demanded the renovation of user health insurance and pension benefits, plus higher hourly wages. A bankruptcy judge allowed Icahn to reduce specific benefits for an 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, eventually 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 letter to employees. ‘We wish this story could have experienced an ending that is different. We can do everything we are able to to control the closure into the best way possible.’
Sweeney in Retrograde
Some in nj-new Jersey believe Icahn is ‘warehousing’ the casino gambling license, and will reopen the resort under a fresh name, sufficient reason for a labor force that is new. Sweeney’s bill would avoid him from doing just that.
And aside from the actual fact that SB 2570 isn’t currently in the books, the Senate president is making yes it would apply to Icahn, by including a provision that makes the legislation retroactive to 1, 2016 january.
‘Casino owners must not be able to misuse bankruptcy guidelines and gaming regulations in order to warehouse a permit or take cash out of the pockets of casino workers and strip them of benefits simply because they refuse to 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 regarding 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, due to the fact 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 permit up to three casinos in the continuing state, collected over 100,000 signatures in favor of casino gaming, enough to force a referendum under state legislation.
But earlier this month, anti-casino team the Committee to Protect Arkansas’ Values/Stop Casinos Now filed a lawsuit into the Supreme Court planning to stop the ballot in its tracks.
Their filing contends that the language of the ballot misleads the public into believing that sports wagering could be available at the proposed casinos, while in fact it will be unlawful. It also claims that the ballot does not convey comprehensively to voters the consequences associated with 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 scenario.
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 groups, donating $109,500 to the cause. Oaklawn and Southland offer ‘skill-based’ gambling 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 when he went toe-to-toe with AWI spokesman Robert Coon regarding the neighborhood present affairs system Arkansas Matters this week.