[toc]Entrepreneur Glenn Straub has a history of missing deadlines when it comes to his continuing attempts to re-open the shuttered Revel Casino as TEN Atlantic City. It looks as though he is about to add another to the list.
Straub claimed TEN would open its doors on Feb. 20. A new report from Press of Atlantic City says just days removed from opening day no inspections have been performed on the property and crucial permits have still not been obtained.
TEN will almost certainly not re-open Feb. 20
Straub has been critical of the governmental bureaucracy in Atlantic City. When it comes to the latest permit issue, it appears TEN management has no one to blame but itself.
“We sent him the applications two weeks ago, and we haven’t heard anything back. I don’t know what is going on with him,” Dale Finch, city director of licensing and inspection told Press of Atlantic City.
As of Tuesday, the office had yet to receive the applications. According to Finch, it would be difficult to coordinate inspections on three days of turnaround time. As of Monday, Straub was in Florida, not New Jersey. The window for possibly getting permits processed before the weekend is rapidly shrinking.
“We would do all that we can to try to help him,” Finch said. There is only so much to be done when the property is still inaccessible to the public and surrounded by fencing.
The building is still not available to the public, but signs boasting the Feb. 20 opening date are still posted around town. Representatives from TEN have not announced any change to the opening either.
Permits a recurring problem for Straub and TEN
Earlier this month, Straub voiced his frustration at a New Jersey Casino Control Commission hearing where the panel ruled Straub and TEN would need to obtain a casino license in order to offer gambling on the premises.
Straub and TEN’s legal team argued because Straub’s business plan is to lease the various components of TEN to tenants, he is a landlord and a casino license should not be necessary. The board disagreed.
A new bill from state Sen. Ray Lesniak could be Straub’s saving grace, as it specifically stipulates a landlord is not required to hold a gaming license to lease gaming space. Even if the bill passes, there are still many more permits to obtain before TEN can start having guests visit again.
TEN has a history of missed deadlines
Since Straub purchased the $2.4 billion Revel property for just $82 million in April of 2015, the property has yet to be operational.
The casino resort’s history is rife with stories of Straub promising an opening is imminent only to see the plans pushed back. His previous proposed and missed opening dates have included summer 2015, summer 2016, and now Feb. 20 of this year.