Former Revel Casino Owner Asked to Open or Sell by New Jersey Governor

Chris ChristieGlenn Straub who is the former owner of Revel Casino has been asked by the New Jersey Governor Chris Christie to sell the property pointing out that he had not reopened the casino in spite of earlier assurances. According to Christie, Straub has repeatedly failed to deliver his promise to reopen the facility at the earliest.

Straub is also criticised by the governor for not applying for a casino license. The owner has refused the license application because the property is on lease to a 3rd party that will operate the casino.

According to the local Casino Control Commission, there is a need for the license for the casino but Glenn Straub has filed a lawsuit to appeal the decision.

Christie while speaking on a radio program has said that any casino that wants to book profit from its business should be licensed. In this regard, he has issued the following statement:

Uh-uh. Not the way it works. Do you want to profit from a casino in Atlantic City? We have to see your financials, and you have to be licensed. So I don’t think it’s going to open as a casino unless this guy goes through the appropriate licensure process.

New Jersey 101.5: Watch for 11 mins into interview

According to Straub, Christie is a lame duck governor who wants to discourage the investments in New Jersey. In the lawsuit, Straub has said that the gaming regulators didn’t follow the state statute while turning down his application to waive off the requirement for a casino license.

The $2.4 Billion shuttered Revel casino was bought by Straub for an amount of $82 million from bankruptcy court in the year 2015 and was renamed “TEN”. Over the years, Straub has made several claims for the opening of property but failed miserably. The State and local authorities are repeatedly blamed by the developer for the delay in the reopening by not issuing necessary approvals and permits.

Straub in a recent media interaction has indicated that TEN is likely to open on 15th June 2017. He has earlier said that he is considering opening the hotel portion while waiting for the state Superior Court to rule on his petition on waiving the requirement of a casino license.

The city director of licensing and inspection, Dale Finch, has expressed his surprise at hearing the statement. In order to reopen the property for Straub, a number of different conditions laid out by Casino Reinvestment Development Authority have to be met in addition to submitting a landscaping plan and traffic study. According to the officials of CRDA, Straub is yet to meet all these conditions.

Jay Stevens

Jay Stevens

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