New Hard Rock

Revel in Atlantic City Friday March 3, 2017. (The Press of Atlantic City / Edward Lea Staff Photographer)

ATLANTIC CITY — The former Revel casino won’t be opening this month.

Owner Glenn Straub said Thursday he won’t meet his self-imposed June 15 deadline to open the 6-million-square-foot facility now known as TEN.

“We are stubborn enough people,” Straub said from Florida on Thursday. “The casino is the hub of the wheel. There is no reason to open the property if it’s only half of a wheel.”

Mayor Don Guardian said several groups of investors have expressed interest in the property over the past couple months.

State gaming officials have told Straub he is required to get some type of gaming license if there is going to be a casino on the property, but he maintains he shouldn’t be required to apply for one since he’s leasing the casino area to a third-party vendor. Straub previously talked about opening the facility as a resort without a casino.

Straub has appealed the Casino Control Commission ruling that required him to have some level of casino license for the property, and he said he’s missing the opening date as he waits on the court decision for his petition.

Guardian was on the Boardwalk near TEN Thursday morning, hosting a ribbon-cutting for the new section of the Boardwalk that sits beyond the closed casino.

The mayor said the city hasn’t heard or seen evidence — including a job fair — to lead him to expect the property would open next week.

The property remaining closed is “very disappointing,” Guardian said, calling it an “architecturally significant” building in the state. The building contains 13 restaurants, a 32,000-square-foot spa, 55,000 square feet of retail space and a parking garage with more than 7,000 spaces.

But there have been some interested groups of investors coming into the city to look at the property to determine whether the property was right for them, said Guardian, adding the city is willing to help Straub.

“I’m here certainly if I can help him either open it or sell it,” Guardian said.

Before purchasing the shuttered Trump Taj Mahal Casino Resort, Hard Rock International and its partners, the Jingoli and Morris families, explored the idea of purchasing the 6 million-square-foot Revel, now known as TEN.

Straub said selling is a possibility.

“No question that all our properties are for sale for the right price,” Straub said.

Gov. Chris Christie also has raised the idea of a change in ownership. Christie, on his monthly “Ask the Governor” radio show on New Jersey 101.5, said he hopes Straub sells the casino because he “hasn’t been able to deliver.”

Since purchasing the property in August 2015, Straub said it would open on several occasions, including June 15, 2016 — exactly a year prior to this year’s proposed date, despite lacking state and local permits. Straub bought the once $2.4 billion Revel for $82 million in bankruptcy court.

“We have invested $20 million into the property,” Straub said. “Every month, we have to pay $1.5 million in taxes.”

Contact

: 609-272-7239 ESerpico@pressofac.com Twitter @ACPressSerpico

Welcome to the discussion.

Keep it Clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
PLEASE TURN OFF YOUR CAPS LOCK.
Don't Threaten. Threats of harming another person will not be tolerated.
Be Truthful. Don't knowingly lie about anyone or anything.
Be Nice. No racism, sexism or any sort of -ism that is degrading to another person.
Be Proactive. Use the 'Report' link on each comment to let us know of abusive posts.
Share with Us. We'd love to hear eyewitness accounts, the history behind an article.

PLEASE BE ADVISED: Soon we will no longer integrate with Facebook for story comments. The commenting option is not going away, however, readers will need to register for a FREE site account to continue sharing their thoughts and feedback on stories. If you already have an account (i.e. current subscribers, posting in obituary guestbooks, for submitting community events), you may use that login, otherwise, you will be prompted to create a new account.

Load comments