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.
The Florida developer in line to purchase the former Revel Casino Hotel in Atlantic City wants an $8 million discount.
Judge Gloria Burns has granted a request by Revel Entertainment to cancel the $110-million sale to Toronto-based Brookfield Asset Management.
The lawyers for Revel filed paperwork to cancel the $110 million sale to Brookfield US Holdings.