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Glenn Straub To Own The REVEL In Atlantic City
Tuesday Janusry 06,2015 : REVEL SALE TO RUNNER UP TO CONTINUE (Update)
And at the agreed bid!
Atlantic City Bankruptcy judge Gloria Burns ruled Monday that the sale of Revel Casino Hotel to Florida real-estate developer Glenn Straub should go forward at his original bid of $95.4 million, despite his claim that his bid should be reduced to $87 million
The unusual situation arose after Straub objected to his own original bid in an attempt to get the Revel for an even cheaper knock-down price (the property was built two years ago at a cost of $2.4 billion).
During a hearing Monday at the U.S. Bankruptcy Court in New Jersey Judge Burns overruled the objection.
The Reuters news agency reported that Straub contends the original auction, won by a Canadian company for $110 million which subsequently reversed out of the deal at a cost of $11 million, was blighted and it remains to be seen if he will conclude the deal.
The judge said she would enter an order for the sale at Straub's original bid to continue, where after he has 30 days to close the deal.
John K. Cunningham, an attorney for Revel, told Burns that a bidder objecting to his own bid was unusual to say the least, and that it was a first for him despite decades of bankruptcy practice.
“This is a case where there is a first time for everything,” Burns replied.
Straub told Reuters that he’s considering all his options, including an appeal of the sale order.
Betradar Launches US Sports Betting Solutions -
With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.
Final 12 For MPNPT Morocco -
Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).
MPNPT Morocco Updates -
Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.
MPN Poker Tour Morocco Day 1A -
The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.
2018 MPN Poker Classic -
The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.
PDC and Sportradar Renew Deal -
Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data
Poker Yaar Joins MPN -
Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.
New MPN Poker Rooms Tower Torneos -
Impressed with Microgaming, having already integrated with the Quickfire platform to gain access to some of the industry’s best gaming content, Tower Torneos has extended the relationship with poker.<
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