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US – TEN’s owner told he will need a gaming licence

By - 2 February 2017

The man who could soon be Atlantic City’s newest casino owner will have to apply for a gaming licence and have a licence hearing with the New Jersey Casino Control Commission like anyone else hoping to own a casino in the state.

Billionaire businessman Glenn Straub, who paid $82m to bring the former $2bn Revel out of bankruptcy, has been told he will need a licence if he wants to open a gaming floor using the Revel’s former licence even if he rents out the operation to another casino company with a licence.

Matthew Levinson, Chairman of the Commission, said: “We would turn the Casino Control Act on its head if we permitted this applicant to avoid licensure.”

Mr. Straub, who plans to open the hotel element of TEN on February 20, said he would take the matter before the courts saying the ruling was ‘just one government agency backing another government agency.’

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