Palm Beach County developer plans to reopen Atlantic City casino hotel Feb. 20

Glenn Straub says doesn't need a casino license to reopen the hotel and its non-casino components

TRD MIAMI /
Jan.January 15, 2017 12:15 PM

The former Revel Casino Hotel in Atlantic City and Glenn Straub (inset)

Glenn Straub, a real estate developer based in Palm Beach County, said next month he will reopen a casino hotel in Atlantic City, New Jersey,  that closed in 2014.

Wellington-based Straub has renamed the former Revel Casino Hotel, now branded as TEN, and he told New Jersey casino authorities that he will reopen the property Feb. 20 with or without a casino license.

The New Jersey Casino Control Commission has been trying to determine if Straub needs a casino license to reopen the former Revel Casino Hotel in Atlantic City, which he has renovated and redeveloped.

Straub contends he doesn’t need a license because he intends to lease the the property’s casino space to an outside operator. “I’m just a mall owner,” he told the Philadelphia Inquirer.

He paid $82 million for the former Revel hotel, which cost $2.4 billion to build. Revel opened in 2012, then descended into bankruptcy twice before closing in 2014.

Straub told the state Casino Control Commission in a public hearing last week that he is ready to open the property’s hotel rooms, restaurants and showrooms, but has no schedule for reopening the casino portion of the property now branded as TEN.

Except for the casino, “it’s ready to go,” he told the commission.

Straub has friends in high places: He is in the background of a Twitter-posted photograph of Fabio at the recent New Year’s Eve party at President-elect Donald Trump’s Mar-a-Lago resort in Palm Beach. [Philadelphia Inquirer] Mike Seemuth


Related Articles

arrow_forward_ios

Glenn Straub says he’ll sell or close Palm Beach Polo and Country Club

Judge rejects Glenn Straub’s no-cash bid for failed Palm House Hotel

Bankruptcy judge rejects Glenn Straub’s bid for failed Palm House Hotel

Developer Glenn Straub responds to allegations of racism

Judge postpones auction of Palm House to consider whether to allow a lender to bid

Real estate investor who funded defense of indicted developer wants the money back

Wellington rejects new uses for two golf courses

Wellington investor expected to sell Atlantic City casino for $200 million

arrow_forward_ios