Revel Casino Sale Finally CompletedGlenn Straub Acquires The Casino For 4 Cents On The Dollar |
|
The Revel saga is finally over, after five attempts at completing a deal with a potential buyer.
On Monday, the deal was finalized with Florida-based real estate developer Glenn Straub. He bought the $2.4 billion casino for $82 million. Straub plans to rebrand the property.
Multiple attempts to finalize the deal had fallen through thanks to the complexities in the casino’s, the most expensive of its kind ever built in Atlantic City, bankruptcy process.
“I always believed it was going to sell, and I was 75 percent sure it was going to be to us,” Straub’s attorney Stuart Moskovitz told the Associated Press. “Sometimes we were more optimistic than others. But it worked out in the end.”
Straub reportedly is still awaiting a license from New Jersey gaming regulators.
Copyright © 2001-2024
CardPlayer.com. All rights reserved.
