Category Archives: Revel

Straub spurned again; Union vs. Icahn, Round Two

Posted on March 5, 2015 by David McKee

Revel has been snatched from Glenn Straub‘s grasp, at least for another week, even though Revel AC has switched its position from contentious opposition to Straub to support. Or, as Revel attorney John Cunningham said, they have “82 million reasons” … Continue reading →

Posted in Atlantic City, Carl Icahn, Glenn Straub, Revel, Trump Entertainment Resorts, Wall Street | 1 Comment

New problem for Straub; Broad casino push in Florida

Posted on March 3, 2015 by David McKee

Whenever you think the Revel saga is done, a new complexity arises. Glenn Straub‘s $82 million purchase is set to be ruled upon in bankruptcy court tomorrow. But, slipping over the transom at the last minute come Leo Pustilnikov and fellow … Continue reading →

Posted in Atlantic City, California, Florida, Glenn Straub, Politics, Racinos, Regulation, Revel, Tribal | Comments Off

Straub’s new plan for Revel; Elaine Wynn gets rude treatment

Posted on March 2, 2015 by David McKee

Glenn Straub may be America’s newest casino owner but he’s quickly emerging as its most unpredictable. While he plans to reopen the gambling component of Revel, his latest brainwave is to add an anti-aging institution. Details are sketchy at present, … Continue reading →

Posted in Atlantic City, Boyd Gaming, Glenn Straub, history, Kazuo Okada, Revel, Steve Wynn | 2 Comments

Could Station go public?; Straub buys Revel again

Posted on February 25, 2015 by David McKee

Station Casinos is doing as well as it ever has since the Great Recession, fueling speculation that an IPO might be on the way. Granted, this is mostly speculation by investors and the media but Deutsche Bank‘s 25% stake in … Continue reading →

Posted in Atlantic City, Glenn Straub, Michael Gaughan, Revel, Station Casinos, Wall Street | 4 Comments

Straub still hearts Revel; Setback in Indiana

Posted on February 24, 2015 by David McKee

Glenn Straub‘s abusive/co-dependent relationship with Revel AC continues, even though federal bankruptcy court has driven a stake through his $95 million purchase agreement for the beached whale of a casino. As Judge Gloria Burns, who has presided over the soap … Continue reading →

Posted in Atlantic City, Glenn Straub, Harrah's, history, Indiana, Lake Tahoe, Politics, Revel, South Dakota, Taxes, Wall Street | 2 Comments

Revel sale dead; Indiana does the right thing

Posted on February 20, 2015 by David McKee

“The history of this case is long and tortured,” said U.S. Bankruptcy Court Judge Gloria Burns, in a major understatement regarding the several and various attempts to sell Revel. With the bang of a gavel, she crushed Glenn Straub‘s $95 … Continue reading →

Posted in Atlantic City, Boyd Gaming, Glenn Straub, Global Cash Access, Indiana, Politics, Racinos, Revel | 1 Comment

That wacky Glenn Straub; Instant racing stumbles; Mongolia or bust

Posted on February 18, 2015 by David McKee

Revel AC has been continuing to negotiate with beady-eyed billionaire Glenn Straub, even after the clock has run out on their purchase agreement. Revel’s incentive is that it wants to avoid Chapter 7 liquidation. Trouble is, Straub is reported to … Continue reading →

Posted in Atlantic City, Glenn Straub, Idaho, International, New York, Politics, Racinos, Regulation, Revel, Tribal | 2 Comments

More trouble for Taj; Revel sale hangs by a thread

Posted on February 12, 2015 by David McKee

It seems that Trump Taj Mahal has been rather cavalier about reporting large transactions and suspicious financial activities to FinCEN. For instance, when customers’ names and Social Security numbers didn’t square, Taj management still didn’t pursue the discrepancies. The Taj ‘fessed … Continue reading →

Posted in Atlantic City, Glenn Straub, Harrah's, Regulation, Revel, Trump Entertainment Resorts | Comments Off

Where to dump Trump?; Straub stumped

Posted on February 11, 2015 by David McKee

Although he’s buried millions of dollars in New Jersey, having been party to four casino bankruptcies, Donald Trump doesn’t want his carcass interred there. Instead, when he goes to that big sand trap in the sky, he wants to be … Continue reading →

Posted in Affinity Gaming, Atlantic City, Donald Trump, Florida, Glenn Straub, Golden Gaming, Horseracing, Illinois, Louisiana, Lyle Berman, Maryland, Revel, Slot routes | 1 Comment

Straub’s time runs short; Smoke gets in Macao’s eyes

Posted on February 10, 2015 by David McKee

Glenn Straub may be $10 million the poorer after yet another deal for Revel has come apart at the seams. Straub wanted to expunge any obligations to Revel tenants. Federal courts would not let him. And, upon that impasse, the … Continue reading →

Posted in Architecture, Atlantic City, Downtown, Economy, Environment, George Maloof, Hard Rock International, Harrah's, history, Macau, Revel, Steve Wynn | 1 Comment

Addition in Mississippi; Subtraction in Atlantic City; Gluttony in Las Vegas

Posted on January 29, 2015 by David McKee

It was all there in black and white: $935 million in state and federal taxes paid, and $4 billion in economic. That’s what Mississippi casinos achieved, despite two closures. “The numbers reflect we’re doing OK here in Mississippi,” understated Mississippi Gaming & … Continue reading →

Posted in Atlantic City, Dining, Economy, Glenn Straub, Louisiana, Marketing, Mississippi, Missouri, Revel, Taxes, The Strip | 1 Comment

Hard Rock back to A.C.?; Today Massachusetts, tomorrow Vermont?

Posted on January 27, 2015 by David McKee

New investment in Atlantic City has yet to materialize, yet the New Jersey Casino Control Commission‘s holding of a hearing for Hard Rock International is encouraging. It’s a purely theoretical exercise, a determination of suitability. Its goal, however, is for … Continue reading →

Posted in Economy, Glenn Straub, Hard Rock International, Nebraska, Politics, Regulation, Revel, Vermont | Comments Off

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

Atlantic City hangs in there; Mississippi mulls i-poker

Posted on January 15, 2015 by David McKee

When it comes to Atlantic City it literally is a question of whether the glass is half-empty or half-full. The city’s casinos are 48% off their 2006 high of $5.2 billion. In 2014, the decline was slowed somewhat by $123 … Continue reading →

Posted in Atlantic City, Boyd Gaming, Colony Capital, Economy, Harrah's, Horseracing, International, Mississippi, Politics, Revel, Sports, Tilman Fertitta, Tropicana Entertainment, Trump Entertainment Resorts | Comments Off

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