Revel Atlantic City will be referred to as TEN moving forward, as new owner Glenn Straub makes the property for its grand reopening in 2017.
Revel Atlantic City is officially no more. The $2.4 billion resort that opened in 2012 and then shut 29 months later on got a new owner in 2015, and now it’s getting a name that is new.
Glenn Straub, the estate that is real who paid $82 million for the bankrupt property, has revealed the Revel will likely be known 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. ‘Our company is thrilled to share our brand utilizing the public and to introduce an era that is new of and entertainment.’
Straub and his Florida-based Polo North Country 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 out the red carpet due to incomplete permits.
Straub seemed to bluff at forgoing his interests in revitalizing the Revel turned TEN, however 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 everyday seek to offer an escape that is infinitely perfect our guests, families and businesses,’ Landino concluded.
Straub had promised $10,000 to the one 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 originated in the public.
Whenever TEN reopens in the first quarter of 2017, the resort can look 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 younger nightclub crowd. Former NFL star Ray Rice brought the resort much publicity that is unwanted 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 bicycling track.
Straub planned to start 900 of Revel’s 1,399 rooms on June 15, he ended up beingn’t sure he’d desire to sign in ’till we get yourself a chance to clean it up. though he admittedly stated’ But brand New Jersey has been slow, at least in accordance with Straub, in approving permits 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 secret Atlantic City has been struggling. Four casino resorts have closed since 2014, and a fifth is coming by way for the 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 may leave just seven gambling enterprises in Atlantic City.
Straub’s TEN will return that true quantity to eight should the city approve his gaming license application. Though he’s ready to start TEN as a hotel and leisure resort, gaming continues to be 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 empire in 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, defeating different municipal lawsuits in the act.
Steve Wynn addresses the press in front 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 Globe)
Wynn Resorts happens to be getting down seriously 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 parcel has been contaminated with lead, arsenic and other pollutants for many years and the clean-up operation is anticipated 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 proposal is just a violation of the 2011 legislation that legalized casino gaming within the state and laid down strict quotas on the quantity of casinos allowed within 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 situated. 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 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 in now and circumvent the law.’
The requirement to protect Suffolk Downs therefore the horse that is thoroughbred 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 it relies heavily on funding from the state although it has since reopened for limited racing.
None of this will 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 law, my focus that is main was boosting the economy and producing jobs. Key to that work was creating an independent Gaming Commission which conducts market that is thorough and then makes informed decisions.
‘This slapdash proposition would upset the free pokies dolphin treasure deliberate and balance that is delicate worked so hard to generate.’
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 lower than Carl Icahn, but New Jersey State Senate President Stephen Sweeney has the legislative power on his side, and is preparing to undertake 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 law that is current how license holders proceed in closing and opening gambling enterprises.
The bill seeks to disqualify casino license applicants in the event that individual or entity behind the bid ‘substantially closed’ a casino property in the past 5 years. The definition of ‘substantially shut’ would be defined by the state’s Division of Gaming Enforcement (DGE) and provide extra powers to the gaming authority that is regulatory.
The writing of SB 2575 suggests that operators who intentionally close a casino with plans to later reopen the location under a name that is new new labor agreements would qualify as owners who ‘substantially closed.’
The clause makes no secret about its intended target, even though it doesn’t straight reference Carl Icahn or the soon-to-shutter Trump Taj Mahal. After a nasty labor dispute, the billionaire announced the casino resort would be closing on October 10.
The Taj shutdown shall 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 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 Labor Disputes
Icahn has been in a battle that is heated the Unite Here regional 54 work union that actually 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 and pension benefits, plus higher wages that are hourly. A bankruptcy judge allowed Icahn to reduce particular 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, fundamentally destroyed its patience and initiated protests that are several all of which dropped on deaf ears when 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 employees. ‘We wish this story could have experienced a different ending. We does everything we can to control the closure in the simplest way possible.’
Sweeney in Retrograde
Some in New Jersey believe Icahn is ‘warehousing’ the casino gambling license, and will reopen the resort under a new title, and with a new labor pool. Sweeney’s bill would prevent him from doing just that.
And no matter the fact that SB 2570 isn’t currently on 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 rules and video gaming regulations in order to warehouse a license and take money out of the pockets of casino workers and strip them of benefits given that 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 Right Up Steam
Jerry Cox, president associated with the 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, 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 allowing 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 law.
But previously 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 for the ballot misleads the public into believing that recreations gambling will be available at the proposed casinos, while in reality it will be illegal. It also claims that the ballot doesn’t convey comprehensively to voters the consequences of 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 happens to be harmed by your decision to hold the ballot vote. It also claims that the Supreme Court won’t have jurisdiction to listen to 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 towards the cause. Oaklawn and Southland offer ‘skill-based’ games 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 regarding the neighborhood current affairs system Arkansas Matters this week.