New Jersey Bill Would Help $2.4 Billion Casino ReopenLegislation Aimed At Bringing Revel Back To Life |
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A proposal that hit the table in New Jersey this week would allow casino owners to forgo obtaining a gaming license themselves if they have a third party run the gambling.
The legislation is aimed at helping to reopen Revel, which closed in 2014. The casino was bought for about $80 million through bankruptcy court by real estate developer Glenn Straub.
Straub has blasted New Jersey officials over what he sees as excessive regulation. He was told earlier this month that he must obtain a gaming license, which prompted him to pursue legal action to try to get the issue resolved.
He said late last year that New Jersey “just stinks.” That comment came just months after he called Atlantic City “a perfect place to put money.”
The bill comes from Sen. Ray Lesniak, the Democratic lawmaker who spearheaded the state’s online casino efforts several years ago. Lesniak is also running for governor.
Lesniak told Press of Atlantic City that it “makes no sense to have a landlord go through the same lengthy review as a casino operator.”
Straub has threatened to walk away from the project numerous times, and he has also announced reopening dates several times, but all have been unsuccessful.
Should the casino ever reopen, it will be rebranded as TEN.
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