After Revel, Developer Glenn Straub Wants To Buy Showboat Casino Site, Too
By David Madden
ATLANTIC CITY, N.J. (CBS) -- It appears that Florida developer Glenn Straub is far from finished in Atlantic City. He's already due to close on an $82-million purchase of the Revel hotel-casino property, and now it appears he also has his eye on a neighboring facility.
Two sources confirm to KYW Newsradio that Straub is talking to Stockton University about taking the former Showboat off their hands.
Stockton's purchase late last year is now mired in a dispute with the Taj Mahal, which is emerging from bankruptcy, over how the Showboat is to be used.
Stockton wants to run classes and a hotel at the site, but the Taj points to a covenant with Caesars limiting usage to a hotel-casino.
Stockton says it is talking with several potential buyers. Straub's purchase of the Revel won't close until next week, due to delays in paperwork.
In the meantime, Straub has indicated he has a $500-million master plan for Atlantic City which will take shape over the next month.
