Some locals are now beginning to wonder what, if anything, Glenn Straub will actually do with the property?
Glenn Straub says it’s doubtful whether any of the non-gambling attractions can be re-opened by Labor Day, but adds he hopes to open an indoor water park there by November.
New owner Glenn Straub said electricity was restored to the Boardwalk resort at 8 a.m. Tuesday.
Wells Fargo acknowledges it no longer has anything to do with the building, which was bought on April 7 by Florida developer Glenn Straub.
Three years to the day after Atlantic City’s $2.4 billion Revel casino opened — and seven months to the day after it closed — a bankruptcy court judge approved its sale to a Florida developer for about 4 cents on the dollar.
Atlantic City’s former Revel casino acknowledges it has no one to turn to but a Florida developer whose bids to buy the shuttered gambling hall have repeatedly fallen apart.
Hearings on the tumultuous Revel casino sale have been postponed.
A third try is being delayed as a judge allows a new player into the discussion.
Glenn Straub signed a deal Tuesday to buy Revel for $82 million. The casino cost $2.4 billion to build.
The owners of the shuttered Atlantic City casino say they could not reach a deal to sell the property.
In a rare Sunday ruling, Judge Jerome Simandle ordered that claims from business tenants at the casino, as well as its sole supplier of utility services, must be heard before the sale can go through.
The sale is on hold while the company that ran its popular nightclub and beach bar appeals.
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.