Revel Owner Sues New Jersey Over Casino Licensing ProcessCasino's Owner Doesn't Think He Needs A Gaming License |
|
The owner of the shuttered Revel casino in Atlantic City has sued New Jersey gaming regulators over the licensing process.
According to a report from the Associated Press, Florida-based real estate developer Glenn Straub is asking a court to rule that he doesn’t need to obtain a full-fledged casino license because he won’t be the one running the casino business itself. A separate group will be managing the property.
Straub wants to reopen the property in spring 2017, but his legal team thinks there has been too much red tape around him getting the necessary state approval to do so.
The businessman acquired the $2.4 billion casino for less than $100 million in 2014.
“Mr. Straub has spent a lot of time, effort and money in trying to make Atlantic City great again,” his lawyer said. “He remains ready, willing and able to open the casino.”
Straub’s license application is still pending with Garden State gaming regulators.
If Revel reopens, it will be called TEN, and Straub has said that gambling will only be a small component of the rebooted property’s business.
There have been several false starts since Straub acquired the property and indicated he was willing to quickly reopen the casino. He threatened to abandon the project, but he also once considered converting it into a university and using it as temporary housing for Syrian refugees.
Copyright © 2001-2024
CardPlayer.com. All rights reserved.
