Glenn Straub wants to take in up to 3,000 Syrian refugees at Revel but the city still considers the house become a dangerous fire risk.
Glenn Straub, the eccentric Florida real-estate developer whom bought the stricken Revel Casino in Atlantic City early in the day in 2010, is offering to turn it into a temporary refugee center.
Straub paid $82 million for the $2.4 billion property after the initial winner for the bankruptcy auction, Brookfield Asset Management, pulled out of the deal.
However, the casino remains shuttered as Straub is mired in appropriate wrangles with Revel’s adjacent power supplier.
Straub told KYW Newsradio that whilst the property ended up being empty he desired to fill it with up to 3,000 refugees that are syrian would be welcome to remain for 18 months.
The resort has 1,399 hotel rooms, but these would not be accessible to refugees; instead, they would be housed in Revel’s conference rooms, which could be’ converted into living rooms.’
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 actually just need someplace to put safety, which we have,’ Straub explained. ‘ I don’t know how many thousands of cameras and security areas, magnetic locks and everything that a casino has that we wouldn’t desire 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 was unaware of Straub’s proposal but it would be ‘pleased to put their offer or other concerned American in touch with their local resettlement agency, which provides opportunities to help refugees who are resettled inside their communities.’
Nevertheless, the small 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 stand at a mind-boggling and apparently non-negotiable $36 million a year.
In contrast, the Borgata’s energy bill is just about $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 the sole customer. Revel AC Inc began building the plant when work started on the casino resort in 2008, nevertheless when it ran out of cash, the plant ended up being taken over by ACR LLC.
In return for bailing Revel out, the owners that are new a 15 percent return on the equity in the 1st five years and 18 % from then on.
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 with 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 every single that Revel remains shut off from the power plant day.
Straub has said that he would like to variously reopen revel, 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 city center has rebounded following last springtime’s protests, gambling as a whole jumping for all five Maryland casino areas. (Image: Al Drago/Baltimore Sun)
The Maryland casino industry is flourishing, their state’s Lottery and Gaming Control Commission releasing economic data for last month that proves citizens and nearby residents are enjoying the conveniences of having gambling venues located 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 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 figures verify the ‘continuing strength’ of Maryland’s gambling industry. ‘Maryland is still well positioned to attract new players,’ Karmel claimed.
Five of a sort
Probably the most promising revelation from 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 return that is positive the Horseshoe Baltimore, the Caesars-owned home situated in the town’s south side rebounding from final April and might’s protests that captivated the country and discouraged outsiders from visiting the downtown metropolis.
The Horseshoe opened in August of 2014 to rave reviews plus the revenues quickly used.
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 internal Harbor and surrounding areas.
Its resurgence is a sign that is positive limited to the gambling community but the general community of Baltimore as well as tourism is reportedly time for Charm City.
Atlantic City Impact
September ended up being a month that is exceptional gambling in Atlantic City, the inclusion of this entire Labor Day holiday leading to an 11 percent increase for the eight remaining casinos.
However, year-to-date the industry remains down 8.4 per cent since 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 cause that is leading of town’s demise. No longer do residents in Pennsylvania, Maryland, or Delaware need 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 city is just a shell of its past self.
‘It’s so sad to see what’s occurred,’ GOP 2016 frontrunner Donald Trump told The Daily Beast last December. ‘I left years back. I acquired extremely lucky. My timing was good, through talent or luck, I’m perhaps not sure.’
An excursion to Atlantic City today is like traveling down memory lane, a few of the Boardwalk’s crown jewels sitting unoccupied and quiet.
New Jersey’s Division of Gaming Enforcement typically releases its gaming data in the middle of the month.
Just 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 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 advantages of gambling enterprises are far outweighed by the social costs.
‘Gambling’s lobbyists allege brand new tax revenues, but academic studies indicate that the costs of the gambling-caused crime, bankruptcies, and other new social costs towards the taxpayers have reached least $3 for every $1 in brand new tax income,’ he writes.
‘In most states, the tax profits are slowly siphoned far from education and teachers and back once again to gambling’s insiders, such as the New that is recent York scandal where $1.7 billion ended up being allegedly misdirected.’
Unusually, for the educational, Kindt makes obscure reference to ‘studies,’ without citing sources, as in the estimate above, and here: ‘Studies confirm that pupil populations are specially vulnerable to EGM gambling addiction and can get addicted at double the adult addiction prices.’
While we’re very happy to take the good professor’s term for it, we should point away that at the RAWA hearing he was fond of quoting from the study that concluded that ‘internet gambling cannot be regulated.’ It is an ancient study from 1999 and the days of dial-up internet, whose authors had been perhaps not well placed to grasp the bigger picture.
In their op-ed Kindt claims that the US National Gambling Impact Study, additionally published in 1999, freeslotsnodownload-ca.com 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 merely quoting an impression of psychologist Dr Robert Hunter, who referred to it as such in 1992.
Kindt additionally states that the US 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 simply encouraged that Congress should instigate ‘analysis regarding the development of gambling difficulties connected with electronic gambling devices (EGD’s) and also the risk factors that accompany this evolution for customers many likely drawn to this form of gambling.’
‘EGMs shrink the consumer 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 consumer that is new, Otherwise, EGMs and associated gambling proponents will continue to deteriorate regional and state economies.’
Kindt’s main assertion, that gambling does not contribute to the economy, stays a hotly debated point.