Straub Suing Casino Commission Over Revel Casino LicenseNovember 30, 2016 10:53 am
The Revel Casino Hotel opened in 2012, with high hopes pinned on the property for restoring Atlantic City to its former glory. Instead, the $2.4 billion white elephant has become a symbol for the gambling resort’s debt-ridden government, and failed bureaucracy.
In the latest saga to befall the beleaguered property, its owner Glenn Straub is now suing AC’s Casino Control Commission (CCC), with his lawsuit arguing that he should not have to obtain an expensive casino license as he only intends to lease it out to a third-party vendor. Commenting on the development, Straub’s attorney David Stefankiewicz explained:
“Mr. Straub has spent a lot of time, effort and money in trying to make Atlantic City great again. He remains ready, willing and able to open the casino. The CCC is putting Straub and his company through unnecessary red tape and delay.”
Echoing Donald Trump’s slogan to “Make America Great Again” by freeing itself from the tyranny of government bureaucracy, Stefankiewicz accused the Casino Control Commission of creating “roadblock after roadblock” at a time when the fate of Atlantic City was “hanging by a thread”.
On April 7th, 2015, Glenn Straub’s Polo North Country Club bought Revel for $82 million, and in September 2016 the property was renamed TEN. At the time, Straub expressed his optimism that the huge building would be open for business by the first quarter of 2017, with the billionaire having already contracted a management team to run the venue.
When it eventually opens, TEN is expected to feature 1,400 hotel rooms, 13 restaurants, nightclubs, theaters, seven swimming pools, and a casino. As mentioned, Straub has insisted he should not be responsible for obtaining the necessary casino license, though, with his attorney stating:
“Surely, being a lessor of a property where, among other things, a casino is being operated does not mean the lessor controls or is involved in the tenant’s business in any way.”