Escalating The Surreality Stakes

By |

It wasn’t the first time he’d threatened to pack his bags and abandon the Revel. In fact, it wasn’t even the first time he’d threatened to do so this month. But Glenn Straub, the mercurial owner of the $2.4 billion defunct casino at the northeast end of the Atlantic City boardwalk, stormed out of a land-use meeting early Thursday afternoon, amid unspecific accusations of blackmail, saying he would “shut down” the mega-resort, which he bought for pennies on the dollar in 2015, “forever.” Revel is the second-largest building in the state of New Jersey, and the largest god-damned casino hotel in Atlantic City history. It has been closed for more than two years.

More about: Atlantic City, Business, Homepage Featured, Atlantic City, atlantic county, CRDA, Glenn Straub, planning

Straub, CRDA Target September For Former Revel Plan Approval

By |

Glenn Straub, the developer who owns the Atlantic City property formerly known as the Revel casino, and the Casino Reinvestment Development Authority (CRDA), are hoping to finish the approval process to reopen the site by the end of September, according to documents filed with CRDA on Wednesday. Straub has been complaining to local media about the drawn-out approval process, while CRDA, which governs planning in Atlantic City’s Tourism District, rejected the earlier application because of concerns about access to the site, since Straub wanted to locate a ropes course in the building’s former main entrance. A successful relaunch for the property is key for cash-strapped Atlantic City and, more widely, for Atlantic County. The Revel property is a top taxpayer and the $2.6 billion site has been a looming empty eyesore on the boardwalk since closing in September 2014. The application that Straub made on appeal includes concessions and suggested changes to the vehicle access to the property.

More about: Atlantic City, Business, Atlantic City, atlantic county, CRDA, Glenn Straub, planning, polo north

Toms River thrift snaps up Ocean City Home Bank

By |

OceanFirst Financial Corp, a Toms River-based bank, on Wednesday said it will buy the parent of Ocean City Home Bank for $145.6 million, building on OceanFirst’s South Jersey buying spree after it swallowed up Cape Bank earlier this year. The deal, which will likely close at the end of this year or in the first few months of 2017, will make OceanFirst Bank New Jersey’s No. 4 bank by deposits, according to a press release. The newly combined bank will have $4 billion in loans, $4 billion in deposits and 61 branches from Middletown to Cape May. It was not clear whether there would be branch closures or layoffs as a result of the deal.

More about: Business, Homepage Featured, acquisition, atlantic county, banks, business, cape bank, deal

A Surreality Tour of Atlantic County

By |

Living around here can be a surreal experience at times, so we decided to photograph a few of our favorite surreal places in the county. Do you live or visit this area? Do you drive by or live near a bizarre building or abandoned lot? Do you want to know more about it? We’d love to hear from you by email, on Twitter or Instagram – we’d be surprised if we couldn’t add more to this list and we’re up for some local research. We’re pretty sure there are some crazy stories behind these crazy places.

More about: Atlantic City, opinion, Watchdog Journalism, accc, atlantic cape community college, Atlantic City, atlantic county, casino reinvestment development authority