|Proposed Casino:||Under Review|
|Hotels:||Atlantic City Hotels|
TEN Atlantic City Review
Update 2-19-2017: Opening date remains fluid.
On September 20, an amended site plan was approved for the former Revel Casino by the New Jersey Casino Reinvestment Development Authority for the newly named TEN Atlantic City, which will occupy the site at 500 Boardwalk. The new name was chosen by a tenant of the property's owner, Florida developer Glen Straub, who said he paid $22,000, rather than the $10,000 he was planning to pay someone to come up with a new name.
Straub’s new management team includes Robert A. Landino, who co-founded and served as president and CEO of BL Companies and will serve as CEO, and Alan Greenstein, a certified public accountant who served as Chief Financial Officer for both Mohegan Sun and Revel, and now at TEN. The new team signed a 25-year lease late last month and at the same time unveiled the new brand.
After several setbacks, Straub was able to secure ownership of the Revel Casino in April 2015 when the bankruptcy court approved the sale. Built at a cost of $2.4 billion and opened in 2012, Straub purchased the 47-storey property at the discounted rate of $82 million. The distressed property closed in 2014 after descending into bankruptcy twice. Straub and his management team say that they will reopen the resort in the first quarter of 2017 pending a certificate of occupancy from Atlantic City and a casino license from the New Jersey Division of Gaming Enforcement.
World Casino Directory will provide updates as they become available.