Revel sale put on hold while nightclub appeals terms
(AP Photo/Wayne Parry)
A federal judge has put the sale of Atlantic City’s former Revel casino on hold while the company that ran its nightclub appeals.
Third Circuit Court of Appeals Judge Thomas Ambro ruled late Friday that Revel has until Tuesday to respond to IDEA Boardwalk’s appeal.
U.S. District Court Judge Jerome Simandle on Jan. 21 denied a bid by some of the former casino’s tenants to delay the sale. He ruled that Revel and Atlantic City would be harmed if he had halted the sale.
Tenants including the nightclub, restaurants and a power plant argued that 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. The sale was scheduled to close Feb. 7.
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