Glenn Straub wants to take in up to 3,000 Syrian refugees at Revel but the town still considers the home become a fire risk that is dangerous.
Glenn Straub, the eccentric Florida real-estate developer whom bought the stricken Revel Casino in Atlantic City previously this present year, offers to show it into a short-term refugee center.
Straub paid $82 million for the $2.4 billion property after the winner that is initial of bankruptcy auction, Brookfield resource Management, pulled away from the offer.
However, the casino remains shuttered as Straub is mired in legal wrangles with Revel’s adjacent power supplier.
Straub told KYW Newsradio that while the property ended up being empty he wanted to fill it with as much as 3,000 Syrian refugees whom would be welcome to remain for eighteen months.
The resort has 1,399 hotel rooms, but these would not be available to refugees; alternatively, they would be housed in Revel’s conference rooms, which might be’ converted into areas.’
Straub did not mention whether or not they would be able to make use of Revel’s two deserted nightclubs or multiple swimming pools.
$36 Million Energy Bill
‘They really and truly just need someplace to place security, which we have,’ Straub explained. ‘ I don’t know how plenty of digital cameras and security locations, magnetic hair and everything that a casino has that we can [use to] keep people that we would not wish to have wandering around within the neighborhoods.’
Straub said that he had reached out to ‘presidential candidates’ to this effect.
The US state Department told the radio station it could be ‘pleased to place his offer or other concerned American in touch making use of their local resettlement agency, which can provide opportunities to help refugees who’re resettled inside their communities. that it was unaware of Straub’s proposition but’
Nonetheless, the tiny issue remains that Revel was recently branded a huge fire danger by the Atlantic City Fire Department.
Straub is refusing to pay for the home’s astronomical power bills, which stay at a mind-boggling and apparently non-negotiable $36 million a year.
In contrast, the Borgata’s power bill is around $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 with the casino as its sole customer. Revel AC Inc began building the plant whenever work started on the casino resort in 2008, but when it ran out of cash, the plant was taken over by ACR LLC.
In return for bailing Revel out, the owners that are new a 15 per cent return on the equity in the 1st 5 years and 18 per cent after that.
Straub is refusing to honor the contract therefore Revel’s energy has been cut. The fire department warned that, with no water flowing through the building’s pipes, and no electricity to permit firefighters access to the upper floors, a fire outbreak could be potentially catastrophic.
Straub is powering the home through the use of portable generators, which city inspectors have actually said is dangerous by itself. The town is fining the property tycoon thousands of dollars for each day that Revel remains shut off from the power plant.
Straub has said that he would like to reopen Revel, variously, as an elite university, a casino specialized in life-extension science, and now 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 after last spring’s protests, gambling as a whole jumping for several five Maryland casino locations. (Image: Al Drago/Baltimore Sun)
The Maryland casino industry is flourishing, the state’s Lottery and Gaming Control Commission releasing financial data for last month that proves citizens and nearby residents are enjoying the conveniences of getting gambling venues located in the region that is mid-Atlantic.
Casino revenue statewide totaled $94,760,583 for the of October, a 9.2 increase year-to-year month. 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 figures verify the ‘continuing strength’ of Maryland’s gambling industry. ‘Maryland is still well placed to attract players that are new’ Karmel stated.
Five of a Kind
Probably the most promising revelation from the statistics 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 good return for the Horseshoe Baltimore, the Caesars-owned property situated in the city’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 followed.
In March, the casino brought in $25.7 million. The following two months it only created $22.9 million and $21.9 million as tensions caused less visitors to travel into the Harbor that is inner and areas.
Its resurgence is a good sign perhaps not limited to the gambling community but the general community of Baltimore also tourism is reportedly going back to Charm City.
Atlantic City Impact
September ended up being a exceptional month for gambling in Atlantic City, the inclusion for the whole Labor Day holiday leading to an 11 percent enhance for the eight remaining casinos.
However, year-to-date the industry continues to be down 8.4 % because the gambling that is former 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 city’s demise. No longer do residents in Pennsylvania, Maryland, or Delaware need certainly to travel to Atlantic City.
And if neighboring residents do indeed travel to Atlantic City, they’re rather unlikely to come back as the once-glistening resort city is only a shell of its past self.
‘It’s therefore sad to see exactly what’s occurred,’ GOP 2016 frontrunner Donald Trump told The Daily Beast final December. ‘I left years back. I obtained extremely happy. My timing was extremely good, through luck or talent, I’m not sure.’
An excursion to Atlantic City today is similar to traveling down memory lane, several associated with Boardwalk’s crown jewels sitting unoccupied and quiet.
New Jersey’s Division of Gaming Enforcement typically releases its gaming data in the centre of the month.
Only then will Atlantic City identify if the strong reports from Maryland represent an increase in gambling countrywide, or if it merely represents Maryland natives home that is staying 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 at the University of Illinois and vocal campaigner that is anti-gambling 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 congressional hearing, 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 expenses of the crime that is gambling-caused bankruptcies, and other new social costs to the taxpayers are at least $3 for every $1 in new tax revenue,’ he writes.
‘In most states, the tax revenues are slowly siphoned away from education and teachers and back again to gambling’s insiders, such as the recent New York Lottery scandal where $1.7 billion ended up being allegedly misdirected.’
Unusually, for the scholastic, Kindt makes vague reference to ‘studies,’ without citing sources, as in the estimate above, and here: ‘Studies confirm that student populations are particularly susceptible to EGM gambling addiction and will get hooked at double the adult addiction prices.’
While we’re thrilled to take the great professor’s word because of it, we should aim out that at the RAWA hearing he was keen on quoting from a study that concluded that ‘internet gambling may not be regulated.’ This is an study that is ancient 1999 and the times of dial-up internet, whose authors were not well placed to understand the problem.
In their op-ed Kindt claims that the United States National Gambling Impact Study, also published in 1999, labelled slots, or maybe more specifically EGMs, as the ‘crack cocaine’ of gambling.
However, this is disingenuous; the study makes no claim that is such simply quoting an opinion of psychologist Dr Robert Hunter, who known it as a result in 1992.
Kindt additionally states that the United States National Gambling Impact Study ‘concluded that any states with EGMs convenient to the public needed to re-criminalize those machines.’
Except it made no such recommendation. It just encouraged that Congress should instigate ‘analysis of the growth of gambling difficulties related to electronic gambling devices (EGD’s) and also the risk factors that accompany this evolution for clients many most likely attracted to this form of gambling.’
‘EGMs shrink the customer economy, denigrate quality of life, enhance fees, and stigmatize governments,’ concludes Kindt. ‘Governments must change their image, re-criminalize EGMs, and ‘grow freeslotsnodownload-ca.com the economy’ to attract new customer businesses, Otherwise, EGMs and associated gambling proponents will continue to deteriorate neighborhood and state economies.’
Kindt’s main assertion, that gambling does not contribute to the economy, remains a hotly debated point.