A Connecticut property developer is one of the people in the running to operate a casino at the shuttered Revel Atlantic City so long as current owner Glenn Straub can first secure a temporary certificate of occupancy and a suitable liquor license.
According to a report from The Press Of Atlantic City newspaper, Robert Landino, Chief Executive Officer for development firm Centerplan, registered a business called Revel North Beach with the New Jersey Department Of The Treasury in May and wants to lease out the Atlantic City property’s casino along with some of its 1,500 rooms.
“He’s one of the people who have what’s called “an option” to, I think, run the casino,” Straub told the newspaper.
Straub bought Revel Atlantic City, which cost $2.4 billion to build, via his Polo North Country Club real estate vehicle in April of 2015 for $82 million and had intended to re-open the property last month. However, he was unable to get a temporary certificate of occupancy and told the newspaper that no deal had yet been reached with Landino as he is also looking at other candidates.
“We’re going to talk to Boyd [Gaming Corporation],” Straub told The Press Of Atlantic City. “The Hard Rocks of the world. All these guys have taken a look at things and they just can’t seem to put a deal in front of us that makes sense. In this case, Bob [Landino] has the same kind of thing. He has the right to go ahead if he wants to put the right deal together.”
Straub further declared that his team was still addressing paperwork issues regarding the re-opening of Revel Atlantic City, which opened in April of 2012 and twice filed for Chapter 11 bankruptcy protections before finally closing its doors 29 months later, while revealing that he hopes to have the New Jersey facility up and running again by the end of July.
According to an article in the Hartford Courant newspaper, the Chief Financial Officer and Chief Information Officer for Landino’s Revel North Beach enterprise have previously worked at various casinos including Revel Atlantic City.
“We are working on a real estate development in keeping with the reopening of Revel [Atlantic City],” Landino told the Hartford Courant. “It’s part of a much broader initiative in Atlantic City.”
The Hartford Courant reported that Centerplan previously partnered with DoNo Hartford to develop Dunkin’ Donuts Park, which is a publicly financed $63 million and 6,000-seat downtown minor league baseball stadium for the capital city’s Hartford Yard Goats minor-league baseball franchise. However, it revealed that both companies had their contracts terminated by the city of Hartford last month following a second missed deadline for substantial completion with insurers Arch Insurance currently carrying out an investigation into who was responsible for the delays.
“We have six to eight active projects and six to eight in the queue,” Landino told the Hartford Courant. “It’s what we do.”