REVEL Rebound. Atlantic City Could Welcome ‘TEN’ in Early 2017

Don't Call It REVEL TEN Atlantic City
Don’t Call It REVEL

TEN. That’s the new name of the Atlantic City property formerly known as REVEL. Owner Glenn Straub and CEO ROBERT A. LANDINO want to open TEN in early 2017.

“It’s what’s next in Atlantic City. We are thrilled to share our brand with the public and to introduce a new era of resort and entertainment,” stated Landino.

ten
Don’t Call it REVEL.

In other (much needed) positive AC news… on Tues., Sept. 20, the CRDA; Casino Reinvestment Development Authority Board of Directors OK’ed Straub’s updated traffic plans for the REVEL / TEN property.

BUT….the approval almost didn’t happen. It was delayed for almost an hour due what some call a ‘WTF’ move by the CRDA. Others say Straub is at fault for not following the rules. The CRDA demanded a $100,000 ‘Special Improvement District’ fee as a condition of the approval. Really.

After much back and forth, the CRDA board featuring Atlantic City Mayor Don Guardian, Deb DiLorenzo from the South Jersey Chamber and Mark Gianntonio, CEO of RESORTS, backed down… for now. They’ll let the courts decide that issue in the future.

Straub was fuming over this alleged, last minute fee grab and has often accused the CRDA of “blackmailing” him. Straub said the $100,000 fee was not clearly documented during the bankruptcy purchase.

The CRDA Board

crda-board-2

Will Straub finally get to open the former REVEL?

One step closer. The Florida developer and polo player can now apply for a temporary certificate of occupancy to open this barely broken-in resort overlooking the inlet section of the Atlantic City Boardwalk.

According to the Press of Atlantic City, Mayor Don Guardian, a member of the CRDA board said: “I’m in strong support of this project,” “We need to do everything that we can do to get TEN opened.”

Editors note: For the past 15 months, Mayor Guardian rarely talked about REVEL. He acted as if he had no idea what was going on. Many think his role as a CRDA board member likely squashed any enthusiasm he had for REVEL. It’s a FACT: one of the main arguments AGAINST North Jersey casinos is the fear of possible cannibalization of local gaming business. A re-opened REVEL / TEN is not something Tropicana, Caesars, Resorts, Borgata or other casino competitors truly want. (no matter what they say)

Teaser TEN Website here >  www.TENacnj.com.

Straub’s Polo North bought the bankrupt REVEL property for just $82 mil. It cost $2.4 billion to build, and after just 2 years of operations, closed in 2014. The property features 13 restaurants and a parking garage with 7,000 spaces.

Local feedback from Eileen Menichelli of Ventnor, NJ:

This may be the last chance for CRDA to do the right thing. Give TEN a chance and let Mr. Straub open his property. If one more casino closes or business leaves the city, you may has well put the final nail in the coffin. Atlantic City needs all the help it can get right now or it will become a ghost town. Sad, but between the CCC, DGE, CRDA and the past thieving mayor, the city was doomed. Stop expecting the casinos to pick up all the slack and start working with them.

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