Glenn Straub wants to take in up to 3,000 Syrian refugees at Revel but the town still considers the home become a dangerous fire risk.
Glenn Straub, the eccentric Florida real-estate developer who bought the stricken Revel Casino in Atlantic City previously this season, offers to turn it into a temporary refugee center.
Straub paid $82 million for the $2.4 billion property after freeslotsnodownload-ca.com the initial winner of this 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 as the property had been empty he wanted to fill it with as much as 3,000 Syrian refugees whom would be welcome to stay for eighteen months.
The resort has 1,399 hotel rooms, but these would not be accessible to refugees; alternatively, they would be housed in Revel’s conference rooms, which could be’ converted into areas.’
Straub did not mention if they would be able to utilize Revel’s two deserted nightclubs or swimming that is multiple.
$36 Million Energy Bill
‘They really just need someplace to put safety, which we’ve,’ Straub explained. ‘ I don’t understand how plenty of cameras and security areas, magnetic locks and everything that a casino has that we wouldn’t want 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 station it could be ‘pleased to place his offer or other concerned American in touch along with their local resettlement agency, which can provide opportunities to help refugees that are resettled in their communities. that it absolutely was unaware of Straub’s proposal but’
But, the little issue remains that Revel was recently branded a huge fire risk by the Atlantic City Fire Department.
Straub is refusing to pay the property’s astronomical power bills, which stand at a mind-boggling and apparently non-negotiable $36 million a year.
In contrast, the Borgata’s power bill is around $12 million per year, despite having almost doubly many resort rooms and a larger gaming floor.
Dangerous Fire Hazard
Revel’s energy plant was built specifically for purpose utilizing 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 money, the plant had been taken over by ACR LLC.
In return for bailing Revel out, the new owners demanded a 15 percent return on the equity in the first five 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 permit firefighters access to the floors that are upper a fire outbreak could be potentially catastrophic.
Straub is powering the property with the use of portable generators, which city inspectors have said is dangerous by itself. The town is fining the home tycoon thousands of dollars for every single day that Revel remains shut off from the energy plant.
Straub has said that he desires to reopen Revel, variously, as an elite university, a casino dedicated to 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 spring that is last protests, gambling as a whole jumping for many five Maryland casino areas. (Image: Al Drago/Baltimore Sun)
The Maryland casino industry is flourishing, their state’s Lottery and Gaming Control Commission releasing financial information for last month that proves residents and nearby residents are enjoying the conveniences of experiencing gambling venues situated 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 reported.
Five of a Kind
Possibly the most revelation that is promising 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 positive return for the Horseshoe Baltimore, the Caesars-owned home located in the town’s south side rebounding from last April and could’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 accompanied.
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 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 month that is exceptional gambling in Atlantic City, the inclusion 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 % while the former gambling mecca of the eastern coast continues to struggle.
Casinos operators have 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 need certainly 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 therefore sad to see what’s took place,’ GOP 2016 frontrunner Donald Trump told The Daily Beast last December. ‘I left years ago. I obtained extremely fortunate. My timing was fantastic, through talent or luck, I’m maybe not sure.’
An excursion to Atlantic City today is like traveling down memory lane, a few of this Boardwalk’s crown jewels sitting unoccupied and silent.
New Jersey’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 merely represents Maryland natives home that is staying their gambling entertainment.
Pro-RAWA Kindt Requires 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 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 casinos are far outweighed by the social costs.
‘Gambling’s lobbyists allege brand new tax revenues, but academic studies indicate that the costs 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 income,’ he writes.
‘In many states, the tax profits are slowly siphoned away from education and teachers and back once again to gambling’s insiders, such as the recent New York Lottery scandal where $1.7 billion was allegedly misdirected.’
Unusually, for the educational, Kindt makes reference that is vague ‘studies,’ without citing sources, as in the estimate above, and here: ‘Studies confirm that pupil populations are especially susceptible to EGM gambling addiction and can get hooked at twice the adult addiction prices.’
While we’re thrilled to take the great professor’s term we should aim out that at the RAWA hearing he was fond of quoting from research that concluded that ‘internet gambling may not be regulated. for this,’ It is an ancient study from 1999 and the days of dial-up internet, whose authors were not well placed to grasp the problem.
In his op-ed Kindt claims that the US National Gambling Impact Study, additionally published in 1999, labelled slots, or more specifically EGMs, as the ‘crack cocaine’ of gambling.
However, this is disingenuous; the study makes no such claim, merely quoting an impression of psychologist Dr Robert Hunter, who referred to it as a result in 1992.
Kindt also 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 suggested that Congress should instigate ‘analysis regarding the development of gambling difficulties associated with electronic gambling devices (EGD’s) as well as the risk factors that accompany this evolution for clients most most likely drawn to this form of gambling.’
‘EGMs shrink the customer economy, denigrate quality of life, increase fees, and stigmatize governments,’ concludes Kindt. ‘Governments must change their image, re-criminalize EGMs, and ‘grow the economy’ to attract brand new consumer businesses, Otherwise, EGMs and associated gambling proponents will stay to deteriorate neighborhood and state economies.’
Kindt’s main assertion, that gambling does maybe not contribute to the economy, stays a hotly debated point.