Legal questions again stall Revel sale

 (Wayne Parry/AP Photo, File)

(Wayne Parry/AP Photo, File)

The former Revel Casino, which has been knocked off the road to recovery several times before, has been sidetracked yet again.

A sale of the 47-story shuttered building in Atlantic City needs a final sign-off. But a federal judge on Friday refused to give one.

Judge Gloria Burns acknowledged it herself; the building has a “long and tortured history,” she said

But she said she couldn’t give a potential sale the final OK, citing pending lawsuits by the building’s former restaurant and nightclub tenants, who say they lost money due to broken leases.

The would-be buyer, Florida developer Glenn Straub, took the stand earlier in the week, occasionally on the verge of tears. At one point he spoke of his goal as “helping … the world,” according to the Inquirer.

Straub has signed a deal to buy Revel for $82 million, a 97 percent discount on the $2.4 billion cost of constructing the flashy building.

The disgruntled tenants have a hearing in early May. Before that, on Monday, Revel’s utility provider will once again ask the judge to cut power to the building. They say Revel owes $20 million for electric service.

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