Glenn Straub wants to take in up to 3,000 Syrian refugees at Revel but the town still considers the home to be a dangerous fire risk.
Glenn Straub, the eccentric Florida real-estate developer whom bought the stricken Revel Casino in Atlantic City earlier in the day in 2010, is providing to turn it into a temporary refugee center.
Straub paid $82 million for the $2.4 billion property following the winner that is initial of bankruptcy auction, Brookfield resource Management, pulled away from the deal.
However, the casino remains shuttered as Straub is mired in legal wrangles with Revel’s adjacent power supplier.
Straub told KYW Newsradio that although the property was empty he wanted to fill it with up to 3,000 Syrian refugees who would be welcome to stay for 1 . 5 years.
The resort has 1,399 hotel rooms, but these would not be accessible to refugees; instead, they would be housed in Revel’s meeting rooms, which could be’ converted into living spaces.’
Straub did not mention whether they would be able to take advantage of Revel’s two deserted nightclubs or swimming that is multiple.
$36 Million Energy Bill
‘They actually just need someplace to put security, which we’ve,’ Straub explained. ‘ I don’t know how thousands of digital cameras and security areas, magnetic hair and everything that a casino has that we wouldn’t wish to have wandering around in the neighborhoods. that we can [use to] keep people’
Straub said that he had reached out to ‘presidential candidates’ to this effect.
The US state Department told the radio place it is ‘pleased to place his offer or some other concerned American in touch along with their local resettlement agency, which can provide opportunities to help refugees who’re resettled inside their communities. that it was unaware of Straub’s proposal but’
Nevertheless, the little issue remains that Revel was recently branded a huge fire risk by the Atlantic City Fire Department.
Straub is refusing to pay for the house’s astronomical energy bills, which stand at a mind-boggling and apparently non-negotiable $36 million a year.
In comparison, the Borgata’s energy bill is about $12 million per despite having almost twice as many hotel rooms and a larger gaming floor year.
Dangerous Fire Hazard
Revel’s energy plant was built specifically for purpose using the casino as its sole client. Revel AC Inc began building the plant whenever work started on the casino resort in 2008, nevertheless when it ran out of money, the plant had been taken over by ACR LLC.
In return for bailing Revel away, the new owners demanded a 15 per cent return on the equity in the first 5 years and 18 percent after that.
Straub is refusing to honor the contract and so Revel’s power has been cut. The fire department warned that, with no water flowing through the building’s pipes, and no electricity to allow firefighters access to the floors that are upper a fire outbreak could newest royal vegas casino free spins bonuses possibly be potentially catastrophic.
Straub happens to be powering the home with the use of portable generators, which city inspectors have said is dangerous in itself. The town is fining the property tycoon thousands of dollars for each that Revel remains shut off from the power plant day.
Straub has said that he desires to reopen Revel, variously, as at the very top university, a casino specialized in life-extension science, and today an ‘extreme sports center.’
Maryland Casino Revenues Increase 9.2 Percent in October
The Horseshoe Baltimore Casino located south of the town center has rebounded following last springtime’s protests, gambling as a whole jumping for several five Maryland casino locations. (Image: Al Drago/Baltimore Sun)
The Maryland casino industry is flourishing, hawaii’s Lottery and Gaming Control Commission releasing financial data for last month that proves citizens and nearby residents are enjoying the conveniences of experiencing gambling venues based in the Mid-Atlantic region.
Casino revenue statewide totaled $94,760,583 for the month of October, a 9.2 increase year-to-year. The development represents an additional $7.9 million in returns for the five venues.
Gaming Atlantic President and Chief Analyst Dr. James Karmel told the Baltimore Sun that the numbers verify the ‘continuing strength’ of Maryland’s gambling industry. ‘Maryland is still well positioned to attract new players,’ Karmel stated.
Five of a form
Possibly the most promising revelation from the data is that it’s not one or two casinos thriving but all five.
Casino October Revenue Percent Increase
Ocean Downs$4.7 million13.0
Rocky Gap$4.2 million10.8
Horseshoe Baltimore$24.7 million9.8
Maryland Live!$55 million9.3
Hollywood Perryville$6.2 million1.6
The strong financials are highlighted by a return that is positive the Horseshoe Baltimore, the Caesars-owned home positioned in the town’s south part rebounding from last April and May’s protests that captivated the country and discouraged outsiders from visiting the downtown metropolis.
The Horseshoe opened in August of 2014 to rave reviews while the revenues quickly implemented.
In March, the casino brought in $25.7 million. The following two months it only produced $22.9 million and $21.9 million as tensions caused less site visitors to travel into the Harbor that is inner and areas.
Its resurgence is a sign that is positive just for the gambling community but the general community of Baltimore in addition to tourism is reportedly returning to Charm City.
Atlantic City Impact
September had been a exceptional month for gambling in Atlantic City, the inclusion regarding the entire Labor Day holiday leading to an 11 percent enhance for the eight remaining casinos.
However, year-to-date the industry remains down 8.4 % once the previous gambling mecca of the east coast continues to struggle.
Casinos operators have very long blamed gambling legalization on behalf of neighboring states as the cause that is leading of town’s demise. No longer do residents in Pennsylvania, Maryland, or Delaware have to travel to Atlantic City.
And if neighboring residents do indeed travel to Atlantic City, they’re rather unlikely to go back as the once-glistening resort town is just a shell of its past self.
‘It’s so sad to see what’s took place,’ GOP 2016 frontrunner Donald Trump told The Daily Beast final December. ‘I left years ago. I obtained extremely fortunate. My timing was fantastic, through talent or fortune, I’m perhaps not sure.’
An excursion to Atlantic City today is like traveling down memory lane, several of this Boardwalk’s crown jewels sitting unoccupied and silent.
Nj’s Division of Gaming Enforcement typically releases its gaming data at the center of the month.
Only then will Atlantic City identify if the strong reports from Maryland represent an increase in gambling countrywide, or if it just represents Maryland natives staying home for their gambling entertainment.
Pro-RAWA Kindt Calls for US Ban on Slot Machines
Professor John Kindt, who testified for RAWA at the recent hearing that is congressional believes that gambling harms the economy. (Image: news.illinois.edu)
John Kindt, Professor of Business and Legal Policy during the University of Illinois and vocal anti-gambling campaigner, has called on the US government to ‘re-criminalize’ electronic gambling machines (EGMs).
Composing an op-ed for the Southern Illinoisan, Kindt, who recently took the stand to testify for RAWA at the recent hearing that is congressional claims that the economic benefits of gambling enterprises are far outweighed by the social expenses.
‘Gambling’s lobbyists allege new tax revenues, but academic studies indicate that the costs of the gambling-caused crime, bankruptcies, and other new social costs to the taxpayers are in least $3 for every $1 in new tax income,’ he writes.
‘In most states, the tax profits are slowly siphoned away from education and teachers and back to gambling’s insiders, such as the New that is recent York scandal where $1.7 billion was allegedly misdirected.’
Unusually, for the academic, Kindt makes vague reference to ‘studies,’ without citing sources, as in the estimate above, and right here: ‘Studies confirm that student populations are especially at risk of EGM gambling addiction and certainly will get hooked at twice the adult addiction prices.’
While we’re very happy to take the good professor’s term we should point down that at the RAWA hearing he had been fond of quoting from a study that concluded that ‘internet gambling cannot be regulated. for it,’ This is an ancient study from 1999 and the days of dial-up internet, whose authors had been maybe not well placed to understand the bigger picture.
In their op-ed Kindt claims that the US National Gambling Impact Study, also published in 1999, labelled slots, or more specifically EGMs, as the ‘crack cocaine’ of gambling.
However, this is disingenuous; the study makes no claim that is such simply quoting an impression of psychologist Dr Robert Hunter, who referred to it as a result in 1992.
Kindt additionally states that the US National Gambling Impact research ‘concluded that any states with EGMs convenient to the public required to re-criminalize those machines.’
Except it made no such recommendation. It just recommended that Congress should instigate ‘analysis of this growth of gambling difficulties related to electronic gambling devices (EGD’s) and the risk factors that accompany this evolution for clients many most likely drawn to this form of gambling.’
‘EGMs shrink the buyer economy, denigrate quality of life, increase taxes, and stigmatize governments,’ concludes Kindt. ‘Governments must change their image, re-criminalize EGMs, and ‘grow the economy’ to attract new consumer businesses, Otherwise, EGMs and associated gambling proponents will stay to deteriorate regional and state economies.’
Kindt’s primary assertion, that gambling does perhaps not contribute to the economy, stays a hotly debated point.