Newspaper article The Record (Bergen County, NJ)

Revel Says State Blocking Opening

Newspaper article The Record (Bergen County, NJ)

Revel Says State Blocking Opening

Article excerpt

The reopening of the dormant Revel casino is being stalled by "inappropriate and unnecessary" red tape by regulators, its owner alleged Monday in a statement in which he threatened legal action.

Glenn Straub said he wants to lease 150,000 square feet of the 6 million-square-foot property to a casino operator -- he did not say which one -- for 25 years as part of his plan to revive the $2.4 billion casino, which opened to much fanfare in 2012 but closed two years later after a second bankruptcy filing.

Instead of welcoming the prospect of 3,000 new jobs in the struggling city, Straub said, state Division of Gaming Enforcement regulators are holding him to the vetting process required of casino operators even though his company, Polo North, would be "only a landlord" of the gambling segment of the reopened property. …

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