[toc]TEN Casino, the former Revel, has been closed since September 2014, but property owner Glenn Straub has managed to keep it in the headlines.
Straub is locked in a heated fight over licensing that has kept the property’s doors locked far longer than he would have liked.
It all comes down to licensing
New Jersey officials have rejected Straub’s requests to forego the licensing process. A bitter fight has ensued, complete with lawsuits and plenty of mudslinging from Straub.
Straub maintains that he will be a “landlord” while a third-party company runs the casino, so he objects to getting a license.
“You can’t bring money into this city,” Straub told the AP in January. “Why do you think [billionaire investor] Carl Icahn backed out of his casino? It’s going to make all investors coming into Atlantic City think twice. We’ll see how long it takes Icahn to sell his property.”
More recently, Straub likened his treatment in Atlantic City to rape:
“They’re trying to make me do what my predecessors did. That’s why they’re bankrupt and out of business.
They don’t know how to not rape you. It’s like when you come to New Jersey, you have to take all your clothes off and burn all your money.”
Of course, as the AP’s Wayne Parry points out, Straub is trying to rewrite the rules in Atlantic City. In his short time there, he has caused more drama on the Boardwalk than anyone since the cast of Jersey Shore.
TEN’s NJ online casino
GAN powers the TEN social casino site. The company holds a transactional waiver from the New Jersey Division of Gaming Enforcement to offer real-money online gambling in conjunction with a licensed New Jersey casino.
Online gambling is a must in New Jersey
It would be surprising if TEN Casino reopens without plans to launch an online gambling site.
All of the land-based casino operators in Atlantic City now offer online gambling:
If a casino in the Atlantic City market eschewed online gambling, it would put itself at a major disadvantage in what is a crowded and highly competitive market.
Online gambling is a solid New Jersey revenue generator, bringing in nearly $200 million in 2016. It has also proven to be a terrific acquisition and marketing tool; a way to drive new traffic to Atlantic City’s land-based casino properties.
A lot of unanswered questions for TEN
The question is: Is the GAN-powered social casino a harbinger of a real-money online gambling partnership between TEN and GAN, or is it nothing more than a social casino site? GAN provides the latter service to many other casinos.
This question will likely remain unanswered for the time being. We still don’t know which company Straub has selected to operate the land-based casino.
We also don’t know if the property will ever receive a license to operate a land-based casino in the state, let alone a real-money online gambling website.