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Wizardofnothing
Wizardofnothing
Wizardofnothing
  • Threads: 121
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Joined: Jul 3, 2015
October 18th, 2015 at 7:32:00 AM permalink
Was surfing the net on a plane and was looking over info on revel. Having a business background I could not help but wonder who in the world makes an investment like this. How in the world could this guy straub make such a fortune and then get involved a waste of space, cannot fathom for the life of me why he bought this building and then kept it dark. Doesn't want to pay for electric and it just sits there. How did gaming regulators allow this and more importantly any ev he had in the purchase in using it as scrap is just deteriorating day by day. Now he has no heat and once winter hits the pipes are sure to burst . I literally have not read another casino story that dumbfounded me any more then this. Weeks and months go by with just zero news on this property. Just random thoughts!!!
No longer hiring, don’t ask because I won’t hire you either
zoobrew
zoobrew
zoobrew
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Joined: Jan 12, 2015
October 18th, 2015 at 8:57:25 AM permalink
Many developers don't play with their own money, but other peoples money. So if it goes bust it's other investors/banks that lose and if he hits it big then he gets a big payday due to the structure of the development.
100xOdds
100xOdds
100xOdds
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Joined: Feb 5, 2012
October 18th, 2015 at 9:28:35 AM permalink
any news about the showboat?
wasn't straub going to run an extension cord from it to power revel?

or is showboat still owned by that university and selling it to straub fell through?
Craps is paradise (Pair of dice). Lets hear it for the SpeedCount Mathletes :)
Wizardofnothing
Wizardofnothing
Wizardofnothing
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Joined: Jul 3, 2015
October 18th, 2015 at 9:41:52 AM permalink
Showboat was officially announced as sold to Bart blatstein who owns the pier shops and was second in the running for a Philadelphia casino
No longer hiring, don’t ask because I won’t hire you either
100xOdds
100xOdds
100xOdds
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Joined: Feb 5, 2012
October 18th, 2015 at 9:48:49 AM permalink
Quote: Wizardofnothing

Showboat was officially announced as sold to Bart blatstein who owns the pier shops and was second in the running for a Philadelphia casino


cool.. at least the university is off the hook.
Craps is paradise (Pair of dice). Lets hear it for the SpeedCount Mathletes :)
Artemis
Artemis
Artemis
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Joined: Nov 20, 2010
October 18th, 2015 at 11:57:51 AM permalink
Quote: Wizardofnothing

Was surfing the net on a plane and was looking over info on revel. Having a business background I could not help but wonder who in the world makes an investment like this. How in the world could this guy straub make such a fortune and then get involved a waste of space, cannot fathom for the life of me why he bought this building and then kept it dark. Doesn't want to pay for electric and it just sits there. How did gaming regulators allow this and more importantly any ev he had in the purchase in using it as scrap is just deteriorating day by day. Now he has no heat and once winter hits the pipes are sure to burst . I literally have not read another casino story that dumbfounded me any more then this. Weeks and months go by with just zero news on this property. Just random thoughts!!!



Quote: 2015 FEDERAL DEPOSIT INSURANCE CORPORATION's SCHEDULE 14A (INFORMATION REQUIRED IN PROXY STATEMENT)

Glenn Straub ... is the President of Straub Capital Corporation and Pishon Partners, LLC in West Palm Beach, Florida. This company is primarily involved in the development of commercial real estate, principally in Florida. He is also a member of the Boards of The Linsly School and Sailfish Club of Florida. Mr. Straub received a bachelor’s degree in finance from Boston College in 1987.



Well...Wizard, no one is perfect. Every guy has both strong point and weak point...

You get a business background, and you know how to manage stuff. Glenn gets a finance background...Perhaps managing (Revel/Showboat) is not Glenn's cup of tea:-)
I'm OK with Corps which pick and choose clienteles. Both insurance companies and casinos have the right to pick and choose customers. They may keep profitable ones and kicked out the rest. But, I'm not OK with a casino supervisor who says counting cards... is like stealing food from a buffet (a foodlifting offense), or video-taping a movie in a cinema (a piracy offense).
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