A federal judge on Wednesday allowed the sale of Atlantic City’s former Revel casino to a Florida developer to proceed.
The Florida developer in line to buy Atlantic City’s former Revel casino hotel is threatening to walk away from the deal if a court ruling goes against him.
Federal Bankruptcy Judge Gloria Burns is approving the sale to Glenn Straub virtually free and clear, although negotiations continue with Revel tenants and the company that provides power to the place.
Sources tell KYW Newsradio a meeting will be held Monday in New York City, hosted by Revel bankruptcy attorneys, in the hope of getting the accord with Brookfield Asset Management back on track.
Attorneys for Revel Casino Hotel say that a Florida developer has offered $90 million for the Atlantic City property that closed this month.
Lawyers for the casino said in a court filing Wednesday night that they received multiple bids for the casino by the Monday deadline. The auction was rescheduled for Aug. 14 at 9 a.m.
Workers at Atlantic City’s newest casino have voted to join a union, meaning all 11 casinos in the city are now unionized.
Baltimore Ravens running back Ray Rice has been offered a plea bargain that would spare him jail time if he participates in anger management counseling.
It won’t really be gambling for many slots players next month at Atlantic City’s newest casino.