Thursday April 16,2015 : NEW JERSEY BUREAUCRACY AND STRAUB CLASH OVER REVEL (Update)
Florida developer says he's about ready to walk away from extensive casino development plans.
Just when many thought the Revel saga in Atlantic City was over with its sale to Florida deveoper Glenn Straub it was back in the headlines again this week as Straub clashed with the state bureaucracy and threatened to halt his development plans for Atlantic City.
The drama began when the long-suffering and unpaid power utility provider for Revel finally pulled the plug, cutting off power supplies to the multi-storey building, which still houses tenants on leases from the previous owners.
The Press of Atlantic City reports that this prompted the state to impose fines of around $5,000 a day for Revel not having its fire suppression systems powered up.
Straub obligingly brought in mobile generators, only to be confronted by state environmental regulators, who are now threatening to fine him for parking the generators next to the casino.
A frustrated Straub reportedly commented:
“I’ll pack my bags and this will sit here for three years. People, if you’re going to stand in our way, we’re packing our bags and headed down south…I’m starting to buck up against a lot of details that cause people to go out of business…I can see why Caesars shut down Showboat.”