Glenn Straub wants to take in up to 3,000 Syrian refugees at Revel but the city still considers the house 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 in 2010, is providing to make it into a temporary refugee center.
Straub paid $82 million for the $2.4 billion property after the winner that is initial of bankruptcy auction, Brookfield Asset 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 although the property ended up being empty he wanted to fill it with as much as 3,000 Syrian refugees whom would be welcome to stay for 18 months.
The resort has 1,399 hotel rooms, but these would not be available to refugees; rather, they would be housed in Revel’s conference rooms, which could be’ converted into living spaces.’
Straub did not mention whether or not they would be in a position to utilize Revel’s two deserted nightclubs or swimming that is multiple.
$36 Million Energy Bill
‘They really just need someplace to place security, which we now have,’ Straub explained. ‘ I don’t understand how many thousands of digital cameras and security places, magnetic locks and everything that a casino has that we can [use to] keep people that people wouldn’t wish to have wandering around within the communities.’
Straub said that he had reached out to ‘presidential candidates’ to this impact.
The US state Department told the radio station it was unaware of Straub’s proposal but it would be ‘pleased to put his offer or other concerned American in touch with their local resettlement agency, which can offer opportunities to assist refugees who’re resettled inside their communities.’
But, the small issue remains that Revel was recently branded a huge fire risk by the Atlantic City Fire Department.
Straub is refusing to cover the home’s astronomical power bills, which stay at a mind-boggling and apparently non-negotiable $36 million a year.
In comparison, the Borgata’s energy 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 power plant was built specifically for purpose aided by the casino as its sole customer. Revel AC Inc began building the plant whenever work started on the casino resort in 2008, however when it ran out of money, the plant ended up being taken over by ACR LLC.
In return for bailing Revel away, the brand new owners demanded a 15 per cent return on the equity in the first 5 years and 18 % from then on.
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 upper floors, a fire outbreak could possibly be potentially catastrophic.
Straub is powering the home by using portable generators, which city inspectors have said is dangerous by itself. The town is fining the home tycoon thousands of dollars for each day that Revel remains shut off from the ability plant.
Straub has stated that he would like to variously reopen revel, as an elite university, a casino devoted to 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 spring that is last 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 monetary information for last month that proves citizens and nearby residents are enjoying the conveniences of getting gambling venues based 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 growth 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 players that are new’ Karmel reported.
Five of a Kind
Probably the most revelation that is promising the data is that it’s not 1 or 2 casinos thriving but all five.
Casino Revenue Percent Increase october
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 side rebounding from final 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 therefore the revenues quickly adopted.
In March, the casino brought in $25.7 million. The following two months it just produced $22.9 million and $21.9 million as tensions caused less site visitors to travel into the Inner Harbor and surrounding areas.
Its resurgence is a good sign maybe not just for the gambling community but the general community of Baltimore as well as tourism is reportedly time for Charm City.
Atlantic City Impact
September had been a month that is exceptional gambling in Atlantic City, the addition associated with the entire Labor Day holiday leading to an 11 percent enhance for the eight remaining gambling enterprises.
However, year-to-date the industry continues to be down 8.4 per cent once the gambling that is former of the eastern coast continues to struggle.
Casinos operators have long blamed gambling legalization on behalf of neighboring states as the leading cause of the town’s demise. No longer do residents in Pennsylvania, Maryland, or Delaware have to travel to Atlantic City.
And if neighboring residents do certainly travel to Atlantic City, they’re rather unlikely to come back as the once-glistening resort city is just a shell of its past self.
‘It’s december so sad to see what’s happened,’ GOP 2016 frontrunner Donald Trump told The Daily Beast last. ‘I left years ago. I obtained extremely happy. My timing was fantastic, through luck or talent, I’m not sure.’
An excursion to Atlantic City today is similar to traveling down memory lane, several of the Boardwalk’s crown jewels sitting unoccupied and silent.
Nj-new jersey’s Division of Gaming Enforcement typically releases its gaming data in the middle 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 home that is staying their gambling entertainment.
Pro-RAWA Kindt Demands US Ban on Slot Machines
Professor John Kindt, who testified for RAWA at the recent congressional hearing, 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 great things about casinos are far outweighed by the social expenses.
‘Gambling’s lobbyists allege new tax revenues, but academic studies indicate that the costs of the crime that is gambling-caused bankruptcies, and other new social costs towards the taxpayers have reached least $3 for every $1 in brand new tax revenue,’ he writes.
‘In many states, the tax profits 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 was allegedly misdirected.’
Unusually, for the scholastic, Kindt makes vague reference to ‘studies,’ without citing sources, as in the quote above, and here: ‘Studies confirm that pupil populations are especially vulnerable to EGM gambling addiction and will get addicted at double the adult addiction prices.’
While we’re thrilled to take the nice professor’s word we should point away that at the RAWA hearing he had been fond of quoting from research that concluded that ‘internet gambling may not be regulated. for it,’ This is an ancient study from 1999 and the days of dial-up internet, whose authors were perhaps not well placed to know the problem.
In their op-ed Kindt claims that the US nationwide Gambling Impact Study, also published in 1999, labelled slots, or even more specifically EGMs, as the ‘crack cocaine’ of gambling.
However, this is disingenuous; the study makes no claim that is such just quoting a viewpoint of psychologist Dr Robert Hunter, who described it as a result in 1992.
Kindt additionally states that the United States National Gambling Impact research ‘concluded that any continuing states with EGMs convenient to the public required to re-criminalize those machines.’
Except it made no recommendation that is such. It simply encouraged that Congress should instigate ‘analysis regarding the development of gambling difficulties related to electronic gambling devices (EGD’s) and the risk factors that accompany this evolution for clients many likely drawn to this form of gambling.’
‘EGMs shrink the consumer economy, denigrate quality of life, enhance fees, and stigmatize governments,’ concludes Kindt. ‘Governments must change their image, re-criminalize EGMs, and ‘grow the economy’ to attract consumer that is new, Otherwise, EGMs and associated gambling proponents will stay to deteriorate local and state economies.’
Kindt’s main assertion, that gambling does maybe not contribute to the economy, remains a hotly debated point.