The Revel Casino was scheduled to reopen on June 15, 2016. However, this date was rejected due to a long list of inspections and key permits that are still in the works. The city’s director for licensing and inspections, Dale Finch, stated that a certificate of occupancy to the owner will not be issued to him until no earlier than June 16, 2016. The chief of staff to the Mayor, Chris Filiciello, mentioned that the elevators needed to be inspected. Also, liquor licenses among other things that need approvals are still being worked on, according to last known reports.
The Revel Casino was opened before in 2012, but it wasn’t successful at that time due to the economy and stock market crashed. At that time, this casino was meant to help revive Atlantic City’s declining casino market, but for some reason the gamblers didn’t get it. And as result, this facility underwent bankruptcy twice under tons of amounting debt that was never close to being paid off. Then the business closed down in September 2014. This casino was one of the four casinos that closed in Atlantic City in 2014.
But now the Revel Casino is under new ownership, and under a new name. There are big and amazing changes to come according to the new owner, Glen Straub. Last year, he bought the Revel Casino for $82 million from the bankruptcy court. This price is only around five cents off a dollar.
This casino is reported to have 900 hotel rooms, and there are plans to have an addition to the casino in late August of this year. Today, July 1, a burlesque show was scheduled to make a debut at a comedy club and a reopened nightclub. The burlesque show was also scheduled to perform at the Nikki Beach in which includes seven outdoor and indoor pools, and a volleyball court. And for mid-August, the owner stated that the following will be available:
- Horse rides will be on the beach
- A salon will be opened
- Virtual reality machines are available
- Outdoor and indoor music festivals with the capacity of 8,000 fans will start
- The opening of ten restaurants will begin
- A skydiving machine and rock climbing wall are provided
- A heliport for high-rollers is provided for flying in and out of Atlantic City
For the end the year, three movie theaters with 75 seats per theater is scheduled to be opened in December. These are the pending plans if the Revel Casino would have opened on the scheduled date of June 15. But now that the opening date is delayed, all the plans for the summer and so forth are unknown. However, Straub still insists that there will still be 900 hotel rooms and several amenities that would be open to the public soon. He also stated that the scheduled plans for late August are still on for that scheduled time.
Other than that, there have been a little progress. For one, some exits are not closed off anymore. Also, Straub is outsourcing a lot of the operation, and an unidentified management company would run the 900 hotel rooms. And lastly, Straub still hasn’t revealed the new name of the casino, but it is reported that the new name would have an Asian theme. One report has stated that Straub mentioned something about artist painters.
About the New Owner
Glen Straub is a millionaire from South Florida. He is 67 years old, and he was born in Wheeling, West Virginia which is a hardcore industrial city far away from the glitzy South Florida. Straub and his brother inherited a group of automobile relatable businesses. However, his first fortune derived from a collection of building materials, concrete, and asphalt companies. These companies are located in West Virginia, Ohio, and Western Pennsylvania.
Over the last 20 years, Straub became committed in buying distressed properties that include a high-end development located in Port St. Lucie, Florida, a polo club, and massive yachts. His passion for distressed properties led him to the purchase of the Revel Casino. And before deciding on a new casino, he had a myriad of ideas for the site, including a “genius academy”, a temporary home for the refugees of Syrian, and a medical tourism company.