Glenn Straub’s agreement to buy the defunct casino-hotel expired at midnight Monday. He wants another month to deal with utility issues and the appeals of commercial tenants who remain.
Straub had until midnight yesterday to close on the sale, but didn’t.
And it may center around the defunct Revel property, soon to be bought by Florida developer Glenn Straub.
By executive order, Christie appointed Kevin Lavin as the city’s emergency manager and Kevyn Orr as special counsel to the emergency manager.
Blatstein was one of four developers hoping to build Philadelphia’s second casino; he proposed putting it in the former Inquirer headquarters, on North Broad Street at Callowhill.
Company officials say operations at its facilities, including a pair of Atlantic City casinos, will go on as usual.
With four casinos gone in the past year, putting more than 8,000 people out of work, New Jersey’s congressional delegation got the US Labor Department to put together $29.4 million in grants for retraining that idled work force.
Icahn, who is poised to buy the Trump Taj Mahal casino-hotel, is ponying up $20 million so it can remain open while bankruptcy proceedings play out.
Judge Gloria Burns has granted a request by Revel Entertainment to cancel the $110-million sale to Toronto-based Brookfield Asset Management.
Straub had offered $95 million for the Atlantic City property. A hearing is scheduled for Friday to consider the motion.
The owners of Atlantic City’s Trump Taj Mahal have pushed back the scheduled closing date for the casino.
“Maybe another newspaper? I don’t know. We’ll deal with that next week,” said Bart Blatstein, who had hoped to put a casino in the former Inquirer building on North Broad Street.
LIVE! Hotel & Casino received the second casino license in Philadelphia.
“Anyone with common sense sees that the gaming industry has changed wholly over this last year,” said councilman John McBlain.
The Pennsylvania Gaming Control Board has called a special meeting for November 18th to announce who, if anyone, will get the second casino license in the city of Philadelphia.