Posts Tagged ‘Long’

Long Dormant Revel Casino in Atlantic City Sold

 Long Dormant Revel Casino in Atlantic City Sold

Atlantic City’s Revel Casino, which has been closed since September 2014, has been sold. Bruce Deifik, the founder of Integrated Properties in Denver, confirmed Monday that he purchased the ill-conceived property for $ 200 million through his business AC OCEAN WALK from Florida developer Glenn Straub.

The Revel was designed to be a luxury casino property to rival the Borgata. It cost a staggering $ 2.4 billion to build and opened in April 2012. It never made a profit and closed about two and a half years later, the third of four Atlantic City casinos to shutter its doors that year.

The casino was a failure from the start, as financial problems caused construction to be halted more than once. It bled money from the moment it opened, couldn’t pay its property taxes, couldn’t pay contractors, couldn’t repay loans, and went into bankruptcy twice.

In August 2014, Revel announced that if it did not receive any acceptable bids to purchase the casino, it would close by September 1st. It closed one day after that.

On October 1st, 2014, Brookfield US Holdings won a bankruptcy auction for the Revel, bidding $ 110 million. This angered Glenn Straub, who felt some funny business was going on when the auction was delayed from the previous week even though all parties were present. The Press of Atlantic City reported that Revel executives held closed-door meetings to discuss offers, which raised the suspicion of Straub.

Straub’s company, Polo North Country club, had bid $ 95.4 million, a bid which was used as a backup in case the sale to Brookfield fell through. As it turned out, the sale did fall through and in January 2015, a bankruptcy judge approved the sale to Straub. In February, though, Revel cancelled the Straub deal and then in April engaged in talks once again with Straub, eventually agreed to sell him the casino for only $ 82 million.

In June 2016, Straub said he was going to reopen the resort with just a small casino and lots of entertainment facilities like a water park, an e-sports lounge, and an equestrian facility. In September of that year, the property was renamed TEN, but in the end, it never reopened.

Bruce Deifik, though, has said he will re-open the property this summer with a new name, Ocean Resort Casino.

“We are incredibly excited that we were able to take advantage of the opportunity to acquire this tremendous property at a time when Atlantic City is seeing great economic strides,” Deifik said in a statement. “Now the city has a number of exciting new projects with our property and the Hard Rock, as well as Stockton University’s new campus and the expansion of the medical center.”

The Hard Rock that Deifik mentioned is the former Trump Taj Mahal, which closed October 10th, 2016. In March 2017, the Seminole Tribe of Florida purchased the former east coast poker haven and announced it would rebranded the Hard Rock Hotel & Casino Atlantic City.

The post Long Dormant Revel Casino in Atlantic City Sold appeared first on Poker News Daily.

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EPT Prague Main Event Day 2: Long Way To Go To Money Bubble, Gleb Tremzin Leads Samuel Chartier, Niall Farrell

 EPT Prague Main Event Day 2: Long Way To Go To Money Bubble, Gleb Tremzin Leads Samuel Chartier, Niall Farrell

With so many players flocking to the European Poker Tour’s stop in Prague, the Czech Republic, Day 2 turned out to be another “survive and advance” day rather than the popping of the money bubble. By the end of the action of Saturday a new leader had emerged in Gleb Tremzin while the overall Day 1 leader Samuel Chartier and 2015 EPT Malta champion Niall Farrell looking to chase him down.

Just how big was the crowd that came back on Saturday? It was 603 strong and, with late registration going on until the first card was pitched, the 1035 player field could still grow. Another nine players came forward to inch the final number of players up to 1044, just short of last year’s 1107 but still damn impressive for a tournament this close to the holidays. The extra buy-ins created a prize pool worth over €5 million, with the eventual champion that is crowned Wednesday walking off with a €921,540 Christmas (or Hanukkah, or Kwanzaa…you pick the holiday) gift.

With only 151 of the original runners earning a min-cash for the event (€8910), the 603 people left in contention were still too far off to even give concern for the money bubble. They still had to stay viable in the tournament, however, and some of them looked to double up early or hit the streets of Prague for a little entertainment. Stephen Chidwick, Liv Boeree, Bertrand Grospellier, Sylvain Loosli, Andrey Pateychuk and Faraz Jaka were all out of the tournament within its first few moments on Saturday, while World Poker Tour Prague runner-up Pavel Plesuv was able to get a double through Shyam Srinivasan to get just back over the starting stack and stave off elimination…at least for the meantime.

Chartier didn’t waste a moment getting back into his groove. Chartier would challenge Gerald Karlic in a blind on blind battle on a 5-9-3-2 flop and turn, putting out a bet of 21K into a 33K pot after Karlic had checked the turn. Karlic was still interested in proceeding, however, with the river six putting several options up as the fourth diamond on the board. Both players would check that river – with its multiple straight draws as well as the flush potential – with Karlic tabling pocket eights with the 8♦; never behind, Chartier showed pocket Queens with the Q♦ to capture the hand and move up to 250K in chips.

The steamroller Chartier was driving continued onward and, once again, Karlic was the man standing in its path. After Chartier opened the action from under the gun, Karlic defended his blind, looking to get some of the chips back that he’d previously lost. Karlic would see a 9-2-8 hit the felt and check call a flop bet out of Chartier. ON the turn, an A♦ made an appearance and Karlic repeated his actions. Another nine on the river had both men completely lost as to what the other had, with both men checking their options. Karlic showed a pocket pair of tens and, unfortunately for Karlic, Chartier once again had him all the way with pocket Jacks, improving his stack to 350K.

While Chartier was continuing to hold his lead, Tremzin was beginning to mount his assault from across the arena. His 320,000 in chips put him in second just before a level up to Level 13 and, after the blind and ante change, he rocketed ahead of the field. Within 20 minutes of the start of Level 13, Tremzin had accumulated 505K in chips and become the dominant chip leader. Chartier would attempt to strike back, eliminating soccer star Jimmy Kebe to reach 505K himself, but by that time Tremzin had continued to add to what would eventually be his Day 2 leading chip stack.

1. Gleb Tremzin, 610,500
2. Niall Farrell, 547,000
3. Simon Persson, 468,300
4. Colin Lovelock, 458,200
5. Samuel Chartier, 444,000
6. Ivan Deyra, 391,300
7. Mustafa Biz, 388,100
8. Sam Greenwood, 365,500
9. Ori Miller, 365,000
10. Adrian Mateos, 346,000

252 players will return on Sunday with some serious business to attend to. First up for the field will be to determine the 151 players who will earn an EPT cash from their trip to the Czech Republic. The second issue of business will be for the individual players to put themselves in the best spot to win this title. While Chartier, Farrell and Tremzin are running good now, it may be a completely different story come Wednesday.

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Long tournaments,* endure sitting?

 Long tournaments,* endure sitting?
How to offer with tournaments that prolonged? What are you undertaking? Do you sit or lie down? I was already fatigued right after 4-5 several hours. My buddy began to perform a event at midnight. I went to sleep and in the early morning when I woke up he was still enjoying the identical event. I could not imagine it! 😮 He performed a total ten hrs. How do you offer with that?:(

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