Glenn Straub Still Snubbed. Revel Resurrection in Atlantic City

revel condemn atlantic city mayor gilliam
Is Atlantic City Business Friendly?

Tilman Fertitita struggled through myriad obstacles to open the now successful Golden Nugget in Atlantic City. Glenn Straub continues to face land mines and he soldiers on with his plans to resurrect the former Revel property by June 15.

Fertitta & Straub paid for their Atlantic City acquisitions in cash. Is that such a bad thing in a city desperate for development? Sadly, both cash-laden entrepreneurs have experienced a less-than-hospitable welcome from some Atlantic City leadership when trying to turnaround their newly purchased AC properties.

Fertitta bought the Trump Marina casino and hotel from bankrupt Trump Entertainment Resorts for just $38 million in February of 2011. Straub recently bought the 2 yr old, barely broken-in REVEL for just $83 million in early 2015.

Golden Nugget CEO Fertitta says AC has PLENTY of gaming revenue. Plenty of BIZ in AC. But Atlantic City is not business friendly due to very high expenses imposed on local business.

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