Glenn Straub may sell TEN casino
As the magnate has failed to reopen former Revel casino, New Jersey authorities asked Straub to sell the property.
US.- Glenn Straub, owner of Atlantic City TEN Casino, was formally asked by the New Jersey’s Governor, Chris Christie, to sell the property. The request came after the American entrepreneur failed to win a legal case, which would have granted the company a permission to operate legal gaming services without a proper license.
Straub argued that his company is not going to be in charge of the Atlantic Casino, so the licensed should be paid by the bidding company. However, New Jersey Casino Control Commission (CCC) ruled that former Revel casino, now presented as TEN, needs a proper license to operate gaming offerings.
Revel Casino Hotel Atlantic City closed its doors two years ago due to financial problems. Its operators officially signed a second statement of Chapter 11 bankruptcy conditions. Straub’s Polo North Country Club real estate company bought the casino last year for US$82 million expecting to reopen the facility as TEN Casino. However, legislation issues have led to the formal petition made by the Governor Christie, who also considers that the company should have fulfil the licensing process requirements.
“You want to profit from a casino in Atlantic City? We have to see your financials and you have to be licensed. So I don’t think it’s going to open as a casino unless this guy goes through the appropriate licensure process,” commented the state’s governor during his monthly Ask The Governor radio program, as World Casino Directory reported.
