Florida businessman Glenn Straub said on Friday that he cannot reopen former Revel Casino at this point as the New Jersey Division of Gaming Enforcement claims that he needs a casino license for the purpose.
Launched in 2012, Revel never turned out to be a profitable endeavor for its original owners. The venue was shuttered only two years after its official opening and was sold to Mr. Straub last year for $82 million. The total amount of $2.4 billion was spent on the construction of the glazed casino tower.
Revel’s current owner hoped that several non-gambling facilities and 900 hotel rooms would be reopened on Wednesday. However, he was prevented from doing so due to the fact that a number of inspections should be carried out. In addition, Revel should be granted a certificate of occupancy by Atlantic City officials before any part of it could be reopened to visitors.
Mr. Straub is demanded by the New Jersey Division of Gaming Enforcement to obtain a casino license before relaunching the venue. The Florida real estate developer told media that he does not need such a license as he would not run the casino at the property. Mr. Straub explained that he is just a landlord to another, outside company, that would operate the gambling amenity.
The businessman also pointed out that he would turn to the New Jersey Casino Control Commission in a bid to appeal the matter. However, he would not be able to proceed with reopening any part of the former Revel resort as he cannot obtain liquor licenses given the current state of affairs.
When asked about his comment, David Rebuck, Director of the New Jersey Division of Gaming Enforcement, said that they will dwell on the possibility for Mr. Straub to be granted a lower-level license. However, the gambling official put an emphasis on the fact that a license should be obtained before the casino reopens doors for players.
In other words, Revel’s current owner may not be granted a full license but one for the provision of casino service. The company that is to run the casino facility would then need to obtain the said full casino license. Mr. Straub is yet to reveal the operator that is to be put at the gambling facility’s helm.
