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Dedication To Turnaround Leads To Permanent AC Gambling License

Landry's Inc. had themselves a daunting task when they took control of the former Trump Marina casino resort in Atlantic City. The first thing the company did was re-brand the casino as the Golden Nugget, and then they started to pour their money and effort into ensuring that the facility would become a first rate resort in the city.

Hanging over their head all the while was the possibility that the New Jersey Gaming Commission would not issue the casino permanent gaming license. On Wednesday, that worry was eliminated when state regulators announced that they would be granting the permanent license request. For regulators, the decision came down to seeing that Landry's was doing more than just throwing a band-aid on the resort.

"We weren't interested in seeing a patch-and-paint job," said Chairwoman of the Casino Control Commission, Linda M. Kassekert.

Landry's CEO Richard H. Liem believes that the Golden Nugget renovations, along with the new Revel casino, will bring gamblers back to a state that is slowly falling behind Pennsylvania and other Northeastern states in terms of growth and innovation within the gaming industry.

"We're hopeful that Revel and the Golden Nugget will draw attention traffic back to Atlantic City from the outlying places," said Liem. "They'll both be new, they'll both be great properties and they'll be destination areas."

The total cost for the Golden Nugget renovations will be in the range of $150 million. Additionally, Revel has been built on a $2.5 billion bankroll, and the opening of Revel is coming at a time when many believed the project was dead.

When the recession hit in 2008, Revel developers stopped construction on the project. With the project re-started recently, Revel plans on opening its doors for the first time to customer on April 2nd.

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