That wily Glenn Straub

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 just wants to move them to other parts of the complex. Less practically, he wants Revel’s power plant torn down. He’s also talking about high-speed ferry (jetfoils?) transportation to Manhattan, “some gaming” and — get this — the world’s largest water park, costing $108 million. Straub would get some of the dough by selling re-naming rights to megaresort. Since he is already commissioning designs, we can take it that he is resigned to paying the full $95 million and getting on with putting his visions for Revel into reality.

Part of the rationale for the water park (which would be at least partially indoors) is to provide wintertime attractions for a city desperately in need of same. He told The Press of Atlantic City he “wants to turn Revel’s casino-hotel complex and surrounding property into a resort-style playground for families and adults. He spoke broadly of adding concerts, laser shows, amateur sports and polo facilities.” He’s at loggerheads, though, with the Casino Reinvestment Development Authority over how Revel’s contribution to the CRDA would be put to use. “The fact of the matter is, Atlantic City hasn’t done well in the last 35 years,” Straub attorney Stuart Moskowitz proclaimed, somewhat hyperbolically.

Other Straub-ian changes would include cutting back the floor space devoted to gambling. And he still entertains some hope of getting his purchase price knocked down to $90 million or less. Considering the amount of lucre Straub is talking about pouring into Revel, it’s odd that he’d imperil the sale over the relative pittance of $5 million or so.

* Federal court strictures notwithstanding, yet another state is making a push for sports betting, Indiana state Rep. Donald Morrison (R) wants to legalize fantasy-sports betting at the Hoosier State’s two racinos. He also wants to bring regular
sports betting to all casinos, racinos and OTBs. This may butt up against Gov. Mike Pence‘s stated opposition to expanded gambling in Indiana, and revenue projects vary between $12 million a year to $70 million. But, says Morrison, “Gaming is something that this state has become extremely reliant upon, that revenue. As it’s been trending down, it’s incumbent upon us to figure out how to fix it or to improve on what we have.” (To say nothing of major sports leagues getting fat off the action on DraftKings and FanDuel). And when state budgets come up short, new forms of gaming — and taxation — are one of the first places legislators look. Morrison likes the chances of his fantasy-sports bill best. He says it’s got “a fighter’s chance. Start small and think big, right?” That’s the spirit.

* Although 57% of South Dakota voters approved an expansion of table games last November, some prudes in the Legislature and at the Bible-thumping Family Heritage Alliance are going to try and overturn the will of the people, what Deadwood Mayor Chuck Turbiville called “a ringing endorsement.” The bluenoses have some legal wiggle room because the popular vote authorized not the games themselves but the legislature’s prerogative to approve the games. This leaves Deadwood casinos in a holding pattern, hoping to have the new games by summer. “We need to continue to change and evolve as gaming has changed and evolved across the country in order to be competitive,” argues Deadwood Gaming Association Executive Director Mike Rodman. One perk for casino employees if the games are approved: They get to come to Las Vegas for training.