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.

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Straub would become the second prospective buyer who was unable to complete a purchase of Revel.

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