A federal judge says the sale of Atlantic City’s former Revel casino to a Florida developer can proceed.
U.S. District Court Judge Jerome Simandle on Wednesday denied a bid by Revel’s tenants to put the sale on hold while they appealed its terms.
The tenants, including restaurants, a nightclub and a power plant, say they could be wiped out if the $95.4 million sale goes through as planned.
Developer Glenn Straub had threatened to walk away from the deal if the judge ruled against him.
In his ruling, the judge said the tenants won’t be irreparably harmed if he let the deal continue, but Revel and the city would be harmed if he halted it.
The casino closed on Sept. 2 after just over two years of unprofitable operation.