Glenn Straub wants to take in up to 3,000 Syrian refugees at Revel but the city still considers the home to be a fire risk that is dangerous.
Glenn Straub, the eccentric Florida real-estate developer who bought the stricken Revel Casino in Atlantic City previously in 2010, offers to turn 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 Asset Management, pulled out of 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 even though the property was empty he wanted to fill it with as much as 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 available to refugees; rather, they would be housed in Revel’s conference rooms, which might be’ converted into living spaces.’
Straub did not mention if they would be able to use Revel’s two deserted nightclubs or swimming that is multiple.
$36 Million Energy Bill
‘They actually just need someplace to place protection, which we’ve,’ Straub explained. ‘ I don’t know how plenty of cameras and security locations, magnetic locks and everything that a casino has that we can [use to] keep people we wouldn’t want to have wandering around into the neighborhoods.’
Straub said that he had reached out to ‘presidential candidates’ to this effect.
The US state Department told the radio station it was unaware of Straub’s proposal but it could be ‘pleased to place his offer or some other concerned American in touch with their local resettlement agency, which provides opportunities to help refugees who are resettled in 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 pay for the home’s astronomical power bills, which stand at a mind-boggling and apparently non-negotiable $36 million a year.
In contrast, the Borgata’s energy bill is about $12 million per year, despite having very nearly twice as many resort rooms and a bigger video gaming floor.
Dangerous Fire Hazard
Revel’s energy plant was built specifically for purpose aided by the casino as its sole client. Revel AC Inc began building the plant when 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 % return on their equity in the first 5 years and 18 % from then on.
Straub is refusing to honor the contract and thus Revel’s energy has been cut. The fire department warned that, with no water flowing through the building’s pipes, and no electricity allowing firefighters access to the floors that are upper a fire outbreak could 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 city is fining the home tycoon thousands of dollars for every day that Revel remains shut off from the ability plant.
Straub has stated that he desires to variously reopen revel, as an elite university, a casino specialized in life-extension science, now an ‘extreme sports center.’
Maryland Casino Revenues Increase 9.2 Percent in October
The Horseshoe Baltimore Casino located south of the city center has rebounded after last spring’s protests, gambling as a whole jumping for many five Maryland casino areas. (Image: Al Drago/Baltimore Sun)
The Maryland casino industry is flourishing, hawaii’s Lottery and Gaming Control Commission releasing financial information for last freeslotsnodownload-ca.com month that proves citizens and nearby residents are enjoying the conveniences of getting gambling venues based in the Mid-Atlantic region.
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 placed to attract new players,’ Karmel reported.
Five of a sort
Perhaps the most revelation that is promising the statistics 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 good return for the Horseshoe Baltimore, the Caesars-owned home positioned in the town’s south part rebounding from last April and might’s protests that captivated the country and discouraged outsiders from visiting the downtown metropolis.
The Horseshoe opened in of 2014 to rave reviews and the revenues quickly followed august.
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 sign that is positive just for the gambling community but the general community of Baltimore also tourism is reportedly returning to Charm City.
Atlantic City Impact
September had been a month that is exceptional 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 percent 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 leading cause of the city’s demise. No longer do residents in Pennsylvania, Maryland, or Delaware need to travel to Atlantic City.
And if neighboring residents do certainly travel to Atlantic City, they’re rather unlikely to return as the once-glistening resort town is just a shell of its past self.
‘It’s so sad to see exactly what’s occurred,’ GOP 2016 frontrunner Donald Trump told The Daily Beast last December. ‘I left years ago. I acquired extremely lucky. My timing was fantastic, through skill or fortune, I’m perhaps not sure.’
An excursion to Atlantic City is like traveling down memory lane, several of the Boardwalk’s crown jewels sitting unoccupied and silent today.
Nj-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 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 during 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 congressional hearing, claims that the economic great things about casinos are far outweighed by the social costs.
‘Gambling’s lobbyists allege new tax revenues, but academic studies indicate that the expenses of the gambling-caused crime, bankruptcies, and other new social costs towards the taxpayers are at least $3 for every $1 in new tax income,’ he writes.
‘In most states, the tax revenues are slowly siphoned away from education and teachers and back in to gambling’s insiders, such as the New that is recent York scandal where $1.7 billion had been allegedly misdirected.’
Unusually, for the scholastic, Kindt makes reference that is vague ‘studies,’ without citing sources, as in the estimate above, and here: ‘Studies confirm that student populations are specially at risk of EGM gambling addiction and certainly will get hooked at double the adult addiction rates.’
While we’re thrilled to take the great professor’s word for it, we should point out that during the RAWA hearing he was keen on quoting from a study that concluded that ‘internet gambling cannot be regulated.’ This is an ancient study from 1999 and the days of dial-up internet, whose authors were maybe not best placed to grasp the bigger picture.
In their op-ed Kindt claims that the United States nationwide Gambling Impact Study, additionally published in 1999, labelled slots, or maybe more specifically EGMs, since the ‘crack cocaine’ of gambling.
However, this is disingenuous; the study makes no claim that is such just quoting an impression of psychologist Dr Robert Hunter, who known it as such 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 recommendation that is such. It simply suggested that Congress should instigate ‘analysis of this development of gambling difficulties related to electronic gambling devices (EGD’s) and the risk factors that accompany this evolution for customers 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 the economy’ to attract consumer that is new, Otherwise, EGMs and associated gambling proponents will continue to deteriorate neighborhood and state economies.’
Kindt’s main assertion, that gambling does maybe not contribute to the economy, remains a hotly debated point.