New Jersey

Court can't transfer casino license to new Revel owner

2015-04-28
Reading time 1 min
Another day, another difficulty for the new owner of Atlantic City's former Revel casino. New Jersey's Division of Gaming Enforcement says Glenn Straub's Polo North Country Club cannot simply assume Revel's casino license in bankruptcy court.

In a filing Monday, the casino regulators say Straub needs to be approved for his own license to operate a casino, adding he is not currently authorized to possess gambling equipment such as the slot machines still inside the building.

The state filing came as an objection to a motion in bankruptcy court for Polo North to assume certain contracts from Revel - which includes the shuttered casino's license.

"No transfer or assignment of any of the licenses, authorizations, approvals and certificates sought to be assumed and assigned by the Debtors' motion can be ordered by this court," the DGE wrote in its filing.

Owners of casinos in New Jersey have to apply for a license from the state Casino Control Commission, which decides whether to grant it after a lengthy background investigation by the gaming enforcement division. A gaming enforcement spokeswoman said recently that Straub had filed some of the materials needed to be considered for a license, but that his application was not yet complete. Agency officials were not immediately available for comment Monday.

The state says as soon as power is restored to the building, which is expected later this week, Straub must have an employee with a casino key employee license on premises to take responsibility for the gambling equipment and plans for keeping it secure.

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