Revel sale for $82 million nears closing

A judge has entered an order authorizing the sale of Atlantic City’s former Revel casino to a Florida developer, and the $82 million deal is expected to be finalized on Monday.

Judge Gloria Burns issued the order Monday morning, and a closing on the deal between Revel AC and purchaser Glenn Straub was expected to be completed shortly afterward.

The judge’s order left unresolved one of the stickiest aspects of the sale: the rights of former business tenants at Revel to continue to operate there once Straub reopens the property.

The judge verbally approved the sale last week, on the fifth attempt to sell the casino. Revel opened in 2012 at a cost of $2.4 billion. It sold for about 4 cents on the dollar.

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