Revel Hits Another Roadblock In Saga To ReopenCasino's Owner Must Obtain A Gaming License, State Says |
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The owner of the shuttered Revel casino in Atlantic City must obtain a gaming license, according to state regulators this week.
Press of Atlantic City reported that the state Casino Control Commission blasted the plans to reopen the property without the proper permits.
Florida-based real estate developer Glenn Straub was seeking to be able to reopen the $2.4 billion casino without a license because he was going to have a third party run the casino operations. The state wasn’t OK with the idea.
Straub bought the casino through bankruptcy court for about $80 million, and he wants to have the casino rebranded as TEN. Several proposed openings have come and gone without state approval. Straub has heavily criticized New Jersey for what he sees as excessive red tape.
The report said that Straub will take the matter to the courts, but that leaves the future of the most expensive casino in Atlantic City history very much in doubt.
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