Deadline passed, Revel sale to be killed Tuesday morning
The owners of Atlantic City’s Revel Casino Hotel say they will cancel a deal Tuesday morning to sell it to a Florida developer.
Revel AC originally said it planned to scrap a deal to sell the shuttered casino to Glenn Straub for $95.4 million just after the midnight deadline for the sale had passed.
But a Revel attorney tells The Associated Press the request to a bankruptcy judge to let it cancel the deal will happen sometime during business hours Tuesday morning.
The deal died after a federal judge refused to let the sale occur without considering the legal rights of business tenants at the casino, as well as its sole utility supplier.
Straub would become the second prospective buyer who was unable to complete a purchase of Revel.
WHYY is your source for fact-based, in-depth journalism and information. As a nonprofit organization, we rely on financial support from readers like you. Please give today.
New Jersey’s gas tax climbing by nearly 3 cents starting New Year’s Day
Gov. Phil Murphy’s administration said Monday the state’s gas tax will climb about 6% to 44.9 cents a gallon.
4 hours ago
Rowan’s Edelman Fossil Park and Museum will open in March 2025
After more than a decade of planning, and three years of construction, the fossil park and museum will open near where a dinosaur was discovered in the 1860s.
3 days ago
Listen 1:05
Suspect arrested after man assaulted outside home in Middle Twp., New Jersey
Middle Township Police Department said Friday its Major Crimes Unit identified the suspect and made an arrest. The person's name has not been released.
3 days ago