A federal judge has approved the sale of Atlantic City’s former Revel casino to the runner-up bidder in last year’s bankruptcy court auction for $95 million — but the buyer doesn’t want it at that price.
The lawyers for Revel filed paperwork to cancel the $110 million sale to Brookfield US Holdings.
The Florida developer who came up short in a bankruptcy court auction for the former Revel casino wants the judge to invalidate the result and hold a new sale.
A hearing is set next week in federal bankruptcy court on whether to approve a $110 million bid to take over the closed Revel Hotel and Casino in Atlantic City.
Chris reviewed the resignation of Secret Service Director Julia Pierson, the latest of the Ebola case in Dallas, and the FCC’s consideration to ban the term “Redskins.” He also talks with Senator Pat Toomey at 8:20.
A Canadian asset management company that won a bankruptcy court auction for the failed Revel casino hotel in Atlantic City plans to reopen it as a casino.
The yellow signs are up on the doors to the boardwalk entrance of Trump Plaza. At 6am it became the fourth casino to close this year and the third since Labor Day Weekend.
A bankruptcy court judge says she will approve an auction Sept. 24 for the closed $2.4 billion Revel Casino Hotel.
A deal to sell Revel Casino Hotel at a bargain basement apparently doesn’t impress the federal bankruptcy trustee involved in the process.
A resource center has opened in Atlantic City, NJ to assist the thousands of people laid off by this weekend’s shutdown of the Revel and Showboat casinos.
If the owners of Revel Casino Hotel had their way, the $2.4 billion resort would have been shut down on Monday.
The hotel will close on Monday, September 1 at 11 a.m. The casino will follow on Tuesday at 5 a.m.
Revel Casino Hotel told a bankruptcy court judge it is still negotiating with potential buyers.
Chris talks with Philly Mag editor Tom McGrath about the Philly Mag party at Citizens Bank park and more. Chris also talks with Senator Pat Toomey about Hillary Clinton’s foreign policy record and more. Sabina, a loving 5 year old Pit Bull mix is Piazza’s Pet of the Week.
Despite casino closures, Atlantic City is still a destination that draws 25 million visitors a year.