Revel in Atlantic City on Auction Block for $90 Million Starter Bid

Revel in Atlantic City on Auction Block for $90 Million Starter Bid

Florida investor Glen Straub has kicked off the auction bidding on Revel for $90 million.

Atlantic City’s Revel Casino is up for auction grabs, and a Florida property developer has provided $90 million in cash to shop for the house which was shut straight down for good the other day. Glenn Straub, who has the 22,000-acre Palm Beach Polo and Country Club in Wellington, Florida, will now end up being the ‘stalking horse,’ or lead bidder, who may be outbid by competitors at an auction on September 24. Other potential buyers have actually until September 23 to make offers.

Straub said this that his offer was ‘an opportunity to turn things around week. That’s what they need at this time; a new direction,’ he added. ‘Give us our six months, so we’ll really actually be open. In 2 years, we’ll be 100 % open.’

Which begs the relevant concern, exactly what will be open, precisely? It seems unlikely that Straub will reopen Revel as being a casino; the Revel Casino project, after all, ended up being a cataclysmic $2.4 billion failure with huge operational costs that had been hemorrhaging $2 million per week when it closed. And besides, it seems Straub features a dislike that is personal of.

Casino Doctor

‘When everybody believes of Atlantic City, they think of casinos,’ Straub told United States Of America Today, adding that he dislikes the idea of Atlantic City as a casino city and is uncomfortable with the idea of

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All over the EU, a License to Deal. Bustling EU: New licenses granted in the united kingdom

 All over the EU, a License to Deal. Bustling EU: New licenses granted in the united kingdom and new possibilities in Spain were among numerous changes to the gambling that is online in europe of belated.

The EU, AKA the European Union, is having something of a licensing and regulatory frenzy of late.

The European gambling industry is busy with a flurry of announcements regarding licenses, revenues and new legislation, many making headlines across the continent. From the UK to Romania, modifications are in store for players and operators alike throughout the EU landscape.

One of the more important recent changes for the gambling that is online worldwide has been the implementation of the UK Gambling (Licensing and Advertising) Act, which has created a certification dependence on those who want to operate in the United Kingdom and will add a 15 percent point of consumption tax starting in December.

Over the last day or two, many of the sites that have already gotten their UK licenses have started to advertise that reality in their poker rooms and gambling enterprises. Organizations ranging from 888poker to partypoker, William Hill and Bet365 have all started displaying the logo of the united kingdom Gambling Commission. PokerStars was additionally expected to introduce a new site simply for UK players today, having confirmed they received a license the other day.

For the minute, most gambling internet sites will run in the united kingdom under an extension permit. These

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Paragon Gaming Investigation Could Jeopardize Vancouver Edgewater Casino

Paragon Gaming Investigation Could Jeopardize Vancouver Edgewater Casino

An artist’s rendering of the proposed Edgewater Casino resort to be built in Vancouver. It seems the task could be in jeopardy now.

Las Vegas-based developers Paragon Gaming, whose ability to ‘meet the conditions of its enrollment’ has been called into question, could put the future of the $535-million Edgewater casino project in downtown Vancouver into doubt.

The former boss of the British Columbia Lotteries Corporation (BCLC), now head of PV Hospitality, an affiliate of Paragon at the center of the probe by the Gaming Policy and Enforcement Branch is, it seems, Paragon’s relationship with Michael Graydon.

A separate Columbia that is british government of Graydon has already concluded that the executive was in conflict of interest when he negotiated employment with Paragon in December 2013, while nevertheless head regarding the BCLC.

The aim of this Paragon task is always to relocate and expand the existing Edgewater Casino, which Paragon purchased in 2006, to create a new resort by having a 72,000- square-foot gambling flooring and two boutique hotels with 550 guest rooms among them, also as space for restaurants and retail.

The development, that is planned to open in 2016, is anticipated to produce 2,000 jobs and generate $180 million each year for the economy that is local. The project is being constructed on a piece of land owned by the BC Pavilion Corporation, opposite the BC Place Stadium.

Con

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