Revel Atlantic City will be referred to as TEN moving forward, as new owner Glenn Straub prepares 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 real-estate developer who paid $82 million for the bankrupt property, has revealed the Revel are going to 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. ‘We are thrilled to share our brand aided by the general public and to introduce an era that is new of and entertainment.’
Straub and his Polo that is florida-based North Club development company have already 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 out the red carpeting 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 for the resort features an infinity expression under 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 businesses,’ Landino concluded.
Straub had promised $10,000 to the person who could think of a name that is winning the Revel overhaul. It is unclear if TEN is the innovative concept of Straub, or if it came from the general public.
Simply Take TEN
When TEN reopens in the quarter that is first of, the resort can look much different than Revel Atlantic City. Straub is transforming the mammoth home to feature family members friendly activity.
Revel was more oriented towards the sexier and younger 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 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 had beenn’t sure he’d desire to sign in ’till we get yourself a chance to clean it. though he admittedly said’ But brand 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 make application for a certificate of occupancy.
TEN Makes Nine, No Eight
It’s no secret Atlantic City has been struggling. Four casino resorts have actually closed since 2014, and a fifth is coming by way of this 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 October 10, Icahn is folding in the Taj and shuttering the house. That will leave just seven casinos in Atlantic City.
Straub’s TEN will return that number to eight should the city approve his gaming license application. Though he’s ready 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 wanting 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 on the East Coast.
After a protracted and bidding that is occasionally bad-tempered with Mohegan Sun, Wynn won the bid for hawaii’s final remaining casino permit, defeating various municipal lawsuits in the act.
Steve Wynn addresses the press in front side of a model for the Wynn Boston Harbor. But will Massachusetts residents vote to authorize a slots parlor just three kilometers away? (Image: Jessica Rinaldi/Boston World)
Wynn Resorts has become getting down seriously to the business of changing a former chemical plant into a shiny brand new waterfront casino.
It’s no easy task; the block of land has been contaminated with lead, arsenic and other pollutants for decades while the clean-up procedure 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, simply three kilometers from in which the $2.1 billion Wynn Boston Harbor is being built has exasperated the organization.
Wynn Resorts claims that the proposal is really a breach of the 2011 legislation that legalized casino gaming within the state and laid down quotas that are strict the quantity of casinos permitted 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 relies. 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 reasonable 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. Some body shouldn’t appear in now and circumvent the law.’
The need to protect Suffolk Downs and also the horse that is thoroughbred 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 permit, and although it has since reopened for limited racing, it relies heavily on funding from their state.
None of this might be Wynn’s fault, and House Speaker Robert DeLeo, one of many architects of this 2011 bill, agrees that the new proposal is beyond the pale.
‘I stand in opposition to Question 1 [the ballot],’ DeLeo said. ‘ As soon as we crafted the law, my focus that is main was boosting the economy and creating jobs. Key to that work had been creating an independent Gaming Commission which conducts market that is thorough and then makes informed decisions.
‘This slapdash proposition would upset the deliberate and balance that is delicate worked so difficult 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 lower than Carl Icahn, but nj-new Jersey State Senate President Stephen Sweeney has the power that is legislative their side, and is ready to accept 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 written text of SB 2575 implies 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 key about its intended target, even 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 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 help 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 actually 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 and pension benefits, plus higher hourly wages. A bankruptcy judge allowed Icahn to reduce certain benefits for an period that is interim in purchase to bring the casino resort out of free pokies dolphin treasure the red.
But the union, which represents about 1,000 of Taj’s 2,800-employee workforce, ultimately destroyed its patience and initiated several protests, all of which fell on deaf ears whenever Icahn wouldn’t relent.
‘Icahn Enterprises was ready to endure a situation that is tough we thought we could emerge successful,’ Icahn said in a page to employees. ‘We wish this story could have experienced an ending that is different. We can do everything we could to control the closure into the easiest 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 brand new title, along with a labor force that is new. Sweeney’s bill would avoid him from doing just that.
And irrespective of the fact that SB 2570 is not presently regarding the books, the Senate president is making sure it would apply to Icahn, by including a supply that makes the legislation retroactive to 1, 2016 january.
‘Casino owners must not be able to misuse bankruptcy legislation and gaming regulations in purchase to warehouse a license or take cash out of the pockets of casino workers and strip them of benefits since they refuse to arrived at a labor agreement with their workers,’ 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, because the pro-casino movement asked for to have a lawsuit that would block the ballot that has been dismissed by the Arkansas Supreme Court.
The Arkansas Winning Initiative (AWI), which wishes voters to amend the constitution to allow up to three casinos within the continuing state, collected over 100,000 signatures in favor of casino gaming, enough to force a referendum under state law.
But early in the day this month, anti-casino team the Committee to Safeguard Arkansas’ Values/Stop Casinos Now filed a lawsuit within the Supreme Court aiming to stop the ballot in its tracks.
Their filing contends that the language regarding the ballot misleads the public into believing that activities betting would be available at the proposed casinos, while the truth is it shall be illegal. It additionally claims that the ballot does not convey comprehensively to voters the consequences of this 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. Additionally claims that the Supreme Court does not have jurisdiction to hear the scenario.
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 the state’s anti-gambling groups, donating $109,500 to the cause. Oaklawn and Southland offer ‘skill-based’ games at their racetracks and currently enjoy a monopoly that is complete gaming in Arkansas.
A popular theme is 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 regional affairs that are current Arkansas Matters this week.