Category Archives: Glenn Straub

Straub wins again; Delaware, racinos at an impasse

Posted on January 22, 2015 by David McKee

Revel is Glenn Straub‘s — if he wants it. HQ nightclub, ACR Energy Partners and other Revel tenants saw their objections swept aside at a bankruptcy hearing yesterday. Judge Jerome Simandle wrote that “the court notes that, the palpable risk … Continue reading →

Posted in Atlantic City, Delaware, Glenn Straub, Politics, Racinos, Revel, Taxes | 1 Comment

Straub holds Revel hostage; Caesars cutbacks begin

Posted on January 21, 2015 by David McKee

Revel continues to be a bone of contention. Utility supplier ACR Energy Partners is leading a group of creditors attempting to block the sale of Revel to Glenn Straub. The latter, they assert, could simply walk away from all contracts, claims, … Continue reading →

Posted in Atlantic City, Carl Icahn, Dining, Glenn Straub, Harrah's, Revel, The Strip, Trump Entertainment Resorts | 1 Comment

That wily Glenn Straub

Posted on January 9, 2015 by David McKee

Freed by Judge Gloria Burns of encumberances, Revel is Glenn Straub’s for the taking — provided he’s willing to pay $95 million. Ir sounds like Straub’s position is softening. Although he has the power to evict Revel’s remaining tenants, he … Continue reading →

Posted in Atlantic City, Economy, Entertainment, Glenn Straub, Indiana, Politics, Revel, South Dakota, Sports, Taxes, Transportation | 2 Comments

Revel: Straub vs. Straub

Posted on January 6, 2015 by David McKee

If Glenn Straub can’t have Revel, he’s determined to see that no one else can … including Glenn Straub. The sole remaining bidder for Atlantic City‘s $2.4 billion white elephant, Straub’s $95.4 million bid for it was accepted by bankruptcy … Continue reading →

Posted in Atlantic City, Cordish Co., Glenn Straub, Harrah's, Maryland, Penn National, Revel, Tribal, Wisconsin | Comments Off

Atlantic City faces uncertain 2015; Wynn remakes Boston look

Posted on December 29, 2014 by David McKee

It can’t get any worse. That’s the cautious mantra emerging from the Boardwalk, where Atlantic City shed four casinos last year. Trump Taj Mahal is on life support provided by Carl Icahn and Caesars Entertainment CEO Gary Loveman has cast … Continue reading →

Posted in Architecture, Atlantic City, Carl Icahn, Economy, Glenn Straub, Harrah's, Massachusetts, Regulation, Revel, Steve Wynn, Technology, Tribal, Trump Entertainment Resorts | Comments Off

Hope and change in Atlantic City

Posted on December 15, 2014 by David McKee

Not everybody is on board with Gov. Chris Christie‘s and state Senator Stephen Sweeney‘s plan for a new, fixed-rate payment system for Atlantic City casinos, in lieu of property taxes. Despite a floodtide of new revenue in recent months, the … Continue reading →

Posted in Atlantic City, Boyd Gaming, Glenn Straub, Harrah's, MGM Mirage, Mohegan Sun, Pennsylvania, Revel, Taxes, Tilman Fertitta, Tropicana Entertainment, Trump Entertainment Resorts | 1 Comment

Stale thinking in Atlantic City; Big trouble in little Macao

Posted on December 10, 2014 by David McKee

New Jersey lawmakers, evidently oblivious to the recent spate of casino closings, have decided that what Atlantic City needs is more and smaller casinos, even though the pitfalls of a casino-based economy have been amply demonstrated. They’re dusting off 2011’s dud … Continue reading →

Posted in Atlantic City, Economy, Glenn Straub, Hard Rock International, Macau, Regulation, Revel | 1 Comment

Revel: Brookfield bails, Straub back in; A few good men

Posted on November 19, 2014 by David McKee

Like its predecessors at Revel, management at Brookfield US Holdings found itself with an albatross around its neck: the cost-intensive Inlet District Energy Center. The standalone power plant cost the resort $1.25 million a month. Brookfield hoped to reduce those costs … Continue reading →

Posted in Atlantic City, Foxwoods, Genting, Glenn Straub, Harrah's, International, Internet gambling, Massachusetts, MGM Mirage, New York, Pennsylvania, Revel, Sports, Taxes, Tribal, Wall Street | Comments Off

Gross injustice; Let the sports betting begin!

Posted on October 21, 2014 by David McKee

If you work at Trump Taj Mahal, there’s good news and bad news. The good news is that the casino now stands a better chance of weathering a November financial crisis, preserving your job. The bad news is you just … Continue reading →

Posted in Atlantic City, Carl Icahn, Economy, Glenn Straub, Revel, Sports, Tropicana Entertainment, Trump Entertainment Resorts | Comments Off

A renaissance for Atlantic City?

Posted on October 17, 2014 by David McKee

If Gary Green set out to stir debate with his Casino Journal polemic on Atlantic City, he could hardly have succeeded better. For Green, the glass is considerably more than half-full and the Boardwalk is “healthy, viable and sound.” In … Continue reading →

Posted in Atlantic City, Boyd Gaming, Colony Capital, Current, Economy, Glenn Straub, Harrah's, Maryland, MGM Mirage, Revel, Trump Entertainment Resorts, Wall Street | Comments Off

Ohio: Success and saturation; The many excuses of Glenn Straub

Posted on October 7, 2014 by David McKee

Now that all four casinos and seven racinos are open, Ohio posted a spectacular year/year increase of 36% in gambling revenue. However, success came at a price, in terms of an 8% decline in same-store revenue, indicative of a saturated … Continue reading →

Posted in Atlantic City, Glenn Straub, Hard Rock International, Harrah's, MTR Gaming, Ohio, Penn National, Racinos, Revel, Wall Street | Comments Off

Most happy fella; Grumbling on the Boardwalk

Posted on October 6, 2014 by David McKee

Although Sheldon Adelson was laying covetous eyes upon the Meadowlands last week — and reiterating his risible drivel about the mystical power of brick-and-mortar casinos to deter problem gambling — for the time being Las Vegas Sands is upping its bet … Continue reading →

Posted in Atlantic City, Carl Icahn, Dining, Glenn Straub, Hard Rock Hotel, Marketing, Pennsylvania, Problem gambling, Revel, Sam Nazarian, Sheldon Adelson, Singapore, The Strip, Trump Entertainment Resorts | Comments Off

Atlantic City: Dim hopes and massive debts

Posted on October 2, 2014 by David McKee

Brookfield Property Partners, new owners of Revel is planning to get back into the casino wars in Atlantic City. “Revel is a brand-new trophy asset on the beachfront, which we are acquiring at a substantial discount to replacement cost. We are excited about … Continue reading →

Posted in Atlantic City, Carl Icahn, Economy, Glenn Straub, Hard Rock Hotel, International, Revel, Trump Entertainment Resorts, Wall Street | 1 Comment

Revel: Straub loses

Posted on October 1, 2014 by David McKee

Bids are in for Revel and the white elephant goes to … Brookfield Asset Management, owner of the Hard Rock Hotel in Las Vegas. (The fund is obviously fond of problem children.) Brookfield’s winning bid was $110 million, leaving stalking-horse … Continue reading →

Posted in Donald Trump, Election, Glenn Straub, Hard Rock Hotel, Harrah's, Horseracing, Massachusetts, Morgans Hotel Group, Penn National, Regulation, Revel, Trump Entertainment Resorts | 3 Comments

Quote of the Day

Posted on September 29, 2014 by David McKee

“It just gives you a dirty feeling, like you want to take a shower.” — Glenn Straub, on the interminable bankruptcy auction for Revel, now adjourned until Sept. 30.

Posted in Atlantic City, Glenn Straub, Revel | Comments Off

Atlantic City: The good, the bad and the very ugly

Posted on September 22, 2014 by David McKee

Taking a glass-half-full view of Atlantic City, CEO of MGM Resorts International Jim Murren wanted back in. Why not, when it means having half of by far the dominant joint in town, Borgata? Now that MGM has been vetted and … Continue reading →

Posted in Atlantic City, Boyd Gaming, Carl Icahn, Donald Trump, Glenn Straub, Harrah's, Internet gambling, Japan, Massachusetts, Mohegan Sun, Revel, Trump Entertainment Resorts | Comments Off

Why is this man smiling?; The daffy world of Glenn Straub

Posted on September 19, 2014 by David McKee

“Restructure! Restructure! Restructure! That’s all he ever does because that’s all he can do!” That was a friend of mine, speaking in exasperation of Donald Trump. However, today the remark could be updated to refer to Gary Loveman. The CEO … Continue reading →

Posted in Architecture, Atlantic City, Donald Trump, Glenn Straub, Harrah's, IGT, Maryland, Massachusetts, MGM Mirage, Revel, Transportation, Wall Street | 1 Comment

Caesars inspires legislation; Decision time for Wynn

Posted on September 18, 2014 by David McKee

As New Jersey forces the issue of sports betting, two lawmakers are offering the major leagues the one thing they can’t resist: money. State Sen. James Whelan (D) and Asm. Vincent Mazzeo (D) are propounding a quarter-of-a-percent tax on all wagers. … Continue reading →

Posted in Atlantic City, Election, Glenn Straub, Harrah's, Massachusetts, MGM Mirage, Mohegan Sun, Penn National, Politics, Revel, Sports, Steve Wynn | Comments Off

Oh no, not him again!

Posted on September 17, 2014 by David McKee

Donald Trump is posturing as the potential rescuer of Trump Plaza and Trump Taj Mahal, provided he can get them dirt cheap. (Principal creditor Carl Icahn will have a thing or two to say about that.) In true Trump fashion, he … Continue reading →

Posted in Atlantic City, Boyd Gaming, Carl Icahn, Colony Capital, Economy, Glenn Straub, Harrah's, Revel, Trump Entertainment Resorts | 1 Comment

Revel draws more interest; Risky business

Posted on September 16, 2014 by David McKee

Glenn Straub having put $130 million in escrow just in case his $90 million, all-cash bid on Revel doesn’t do the trick, other bidders are tipping their hands. Money doesn’t mean much to California developer Richard Meruelo, who forfeited a … Continue reading →

Posted in Atlantic City, Glenn Straub, Neil Bluhm, Ohio, Penn National, Pennsylvania, Regulation, Revel, Technology, Tilman Fertitta | 1 Comment