By David Madden
ATLANTIC CITY, N.J. (CBS) — It appears that Florida developer Glenn Straub is far from finished in Atlantic City. He’s already due to close on an $82-million purchase of the Revel hotel-casino property, and now it appears he also has his eye on a neighboring facility.
Two sources confirm to KYW Newsradio that Straub is talking to Stockton University about taking the former Showboat off their hands.
Stockton wants to run classes and a hotel at the site, but the Taj points to a covenant with Caesars limiting usage to a hotel-casino.
Stockton says it is talking with several potential buyers. Straub’s purchase of the Revel won’t close until next week, due to delays in paperwork.
In the meantime, Straub has indicated he has a $500-million master plan for Atlantic City which will take shape over the next month.