There is yet another sale rumor for Atlantic City's TEN Casino. While this one has more proof than most, Glenn Straub is still denying its happening.
These are the great will-they-or-won’t-they love stories of our time. And there is a new chapter in the story of Glenn Straub and his big, beautiful, closed New Jersey casino.
More rumors a Colorado group is buying TEN
There are several issues keeping the newly-christened TEN from opening its doors. Problems include insufficient permits, missing liquor licenses, and several legal battles.
However, the biggest issue of all is that Straub simply refuses to get a casino license, and he is battling Atlantic City officials in court over the issue. As Straub figures, he is just leasing casino space, so he is not the operator and should not need a license.
In the meantime, several rumors keep surfacing that Straub is selling his property.
Just last month, a New York firm claimed it was upping its $200 million offer to $225 million. This time it is a Colorado firm at the center of the gossip.
Per the Press of Atlantic City, the Colorado-based Mile High Dice organziation filed paperwork on Aug. 31 to purchase TEN from Straub.
What the company filed is called an agreement of sale. While it is not an official sale agreement, the filing shows the city the two groups are very close to finalizing things.
There is no price tag on the paperwork.
Straub says this is another attempt to keep him down
This sale all sounds well and good, right? Well, this is where Straub, to the surprise of no one, has a completely different story.
This is what Straub told Press of Atlantic City:
“I have no idea, I’ve never talked to them. They are doing this just so they can tie up our property. People can file anything.”
This is similar to what Straub said regarding the rumored New York purchase as well. Could he be pulling the media’s leg? Or is this the latest in a long history of Straub completely denying the claims of politicians, local lawmakers, and other casino operators.
Straub, as usual, was boisterous in his statement. He also pointed out that, even though he has to spend $2 million a month in upkeep on the closed casino, he can keep doing that for another 30 years because of what a good deal he got on the property.
Unfortunately for Straub, he cannot get much bang for his buck if the casino never opens. So, it might be time to take his relationship with TEN to the next level. Otherwise, one of these other suitors might be a better fit.