{"id":15553,"date":"2015-02-18T13:40:08","date_gmt":"2015-02-18T21:40:08","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=15553"},"modified":"2019-01-09T09:18:34","modified_gmt":"2019-01-09T17:18:34","slug":"that-wacky-glenn-straub-instant-racing-stumbles-mongolia-or-bust","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/that-wacky-glenn-straub-instant-racing-stumbles-mongolia-or-bust\/","title":{"rendered":"That wacky Glenn Straub; Instant racing stumbles; Mongolia or bust"},"content":{"rendered":"

Revel AC<\/strong> has been continuing to negotiate with beady-eyed billionaire Glenn Straub<\/strong>, even after the clock has run out on their purchase agreement. Revel’s incentive is that it wants to avoid Chapter 7 liquidation<\/a>. Trouble is, Straub is reported to be \"Straub\"<\/a>lowballing Revel (as though $95.4 million for a $2.4 billion casino weren’t low enough), even though a deal has been described as “close.”<\/a> Further complicating the issue, different courts have issued differing opinions about whether Straub can buy Revel without negotiating with its tenants. (In the old ham-and-egg scenario, Straub has an interest but the tenants are committed.) At least this week’s Straub\/Revel meetings\u00a0haven’t disintegrated into shouting matches. Or, as one report put it, “This week there were fewer loud voices to be heard from the room.”\u00a0Everyone is dancing attendance upon Bankruptcy Court Judge Gloria Burns<\/strong>, who will decide tomorrow whether or not to sever the remnants of the collapsed sale agreement. Since Straub stands to lose a $10 million deposit if that happens, his attorney is already vowing\u00a0to appeal an adverse ruling. \u00a0Say this about Straub: He’s certainly eager to pour a lot of money into Revel, promising to bankroll high-speed New York City<\/strong> ferry service.<\/p>\n

*\u00a0\u201cA repeal would discourage other businesses from investing in Idaho<\/strong> for fear of having the rug pulled out from under their feet,” argued Idaho state Sen. Bob Nonini<\/strong> (R). “Don\u2019t forget the agricultural importance of the industry and the enormous negative impact that comes with the\u00a0repeal.\u201d Unfortunately for Nonini and the VLT sport known as “instant racing,” his argument fell on mostly deaf ears. The Senate voted 25-9 to outlaw the terminals<\/a>, sending the issue to the Idaho House and, potentially, the desk of Gov. C.L. Butch Otter<\/strong>.<\/p>\n

\u201cI don\u2019t think there is any way you can say that they are not a simulation of a slot machine \u2013 they were intended to be that,” riposted state Sen. Curtis McKenzie<\/strong> (R). “A hundred juries out of 100 would find that these machines are simulations of slot machines. They clearly\u00a0are.\u201d Nonini fired back that it was an issue for the courts, not the Lege. He also blasted the\u00a0Coeur\u00a0d\u2019Alene Tribe<\/strong> for its lobbying efforts, as well as for its inducement of an investigation into Greyhound Park<\/strong> by the Post Falls<\/strong> police department.<\/p>\n

Unfortunately for Nonini, last week’s counterattack on the\u00a0Coeur\u00a0d\u2019Alene Tribe’s VLTs as Class III machines was quickly repulsed. Idaho Lottery<\/strong> Director Jeff Anderson<\/strong> replied that the devices are in compliance with state law. Score<\/em>: Coeur d’Alene 2, Nonini 0.<\/p>\n

* OK, so that casinos-in-Japan<\/strong> thing was a bust and South Korea<\/strong> is moving slowly. But hey, Mongolia<\/strong> is considering commissioning two new casinos<\/a>. The one earmarked for\u00a0Khushigt International Airport<\/strong> is targeted at Chinese tourists, the customer of choice. No location is specified for the second casino, although that noted international playground, Ulan Bator<\/strong>\u00a0is available.\u00a0The only losers are Mongolian citizens, who would be barred from playing at either. Gary Loveman<\/strong> is probably booking a flight to Mongolia even as we speak.<\/p>\n","protected":false},"excerpt":{"rendered":"

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 →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[23,185,194,22,101,33,111,25,157,20],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/15553"}],"collection":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/comments?post=15553"}],"version-history":[{"count":5,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/15553\/revisions"}],"predecessor-version":[{"id":23245,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/15553\/revisions\/23245"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=15553"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=15553"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=15553"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}