Developer Glenn Straub is preparing to sue the state of New Jersey’s Casino Control Commission in an attempt to bypass casino license issues.
The Revel Casino is a venue located in Atlantic City, New Jersey that has been shut down for some time. The casino opened in 2012 after costing $2.4 billion to be created. The venue had high hopes but was open less than two years before being forced to shut down operations. Straub was able to pick up the venue during bankruptcy court for a much lower cost than the construction price, at $82 million. The Florida developer took some time to decide as to what he would do with the venue but now he has renamed the space Ten and wants to open as a gaming resort. However, the Casino Control Commission seems to be standing in his way.
Suing for Operation Rights
Straub has come across a problem as the New Jersey Casino Control Commission is requiring that he have a casino operating license before he opens the new Ten gaming resort. Straub has now filed a lawsuit that claims he will only be renting the space to a casino operator and he is not required to obtain a casino license.
David Stefankiewicz is representing Straub and stated that the developer spent a great deal of time and effort as well as money in trying to make Atlantic City great again. Straub is ready, willing and able to open the casino. Instead of creating continual roadblocks, the Commission (according to Stefankiewicz) should be doing everything they can to facilitate the casino opening. Doing business in the area should not be so hard and the CCC is reportedly putting Straub as well as his company through unnecessary delays and red tape. The attorney pointed out that this is disappointing as well as puzzling as the future of Atlantic City is hanging by a thread and people are in need of employment.
The attorney also pointed out that a mall owner does not control the business of a GAP store or a Macy’s. Basically, the point is that Straub should be able to avoid licensing and the casino operator should be the one who has to obtain certification.
Trying to Open by Spring of 2017
Straub would like to be able to open Ten by spring of next year, which is only a few months away. A petition has been presented to officials asking for a ruling in favor of his belief that a full casino license is not needed. However, he has also sent in an application for a gaming license if the petition is not approved. This will of course take longer and may delay the reopening of the building to a later date.
With the changes to the property, visitors will now have access to thirteen restaurants, two theaters, a spa and three night clubs. There is a comedy club on site as well as a day club. Visitors can enjoy the warmer months having out by five different swimming pools. As far as gaming is concerned, the venue boasts a casino floor consisting of 130,000 square feet of space as well as 2,500 slot machines and 120 table games.
The new brand known as Ten is a reflection of the mark out of ten with the logo being a representation of the beachfront setting as well as overall guest experience for those visiting Atlantic City. The former CFO of the Revel, Alan Greenstein, as well as Robert Landino will be acting as managers of the new Ten property.