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Prospective REVEL Casino Buyer Glenn Straub Wants a Discount
Friday December 26,2014 : PROSPECTIVE REVEL CASINO BUYER WANTS A DISCOUNT (Update)
Florida developer Glenn Straub drives a hard bargain.
Florida property tycoon Glenn Straub wants to pay $87 million for the Revel Resort and Casino in Atlantic City, built just two-and-a-half years ago at a cost of $2.4 billion...and as the only buyer on the scene at present it looks as if he may prosper from his tough bargaining stance.
Straub was one of the original bidders, offering $95.4 million when the Revel went on the auction block earlier this year. He lost to Toronto-based Brookfield Asset Management, which bid $110 million but subsequently backed out of the deal, forfeiting an $11 million advance deposit.
Now Straub is the only bidder....and he's driving a hard bargain, claiming that the original auction was not run on a fair and honest basis, and he clearly intends to make the sellers pay for that. The property developer says in court documents filed just before Christmas Eve that he wants an $8 million discount.
He also wants Judge Gloria Burns to deduct a $3 million breakup fee he was originally promised because Revel is keeping Brookfield’s $11 million deposit.
The filing suggested that Revel should be put up for auction again and Straub should get his deposit back if the judge finds that “the auction process was deficient to the extent the auction significantly and adversely affected” Revel’s ability to receive the highest bid.
Straub’s filing says White and Case, the law firm running the sale, also represented Brookfield, and the firm was allowed to “dictate the terms” of the auction.
White and Case has not yet commented on the accusation of a conflict of interest.
NHL Odds: Toronto Maple Leafs vs. Washington Capitals on Tuesday -
Auston Matthews and the Toronto Maple Leafs touch down in DC this Tuesday (7 PM ET on TSN) as one of the hottest teams in the NHL. They've tallied a ridiculous 26 goals through only five games played; that's more than five goals scored per game on average. They'll be up against an equally potent Washington Capitals team.
Pro League Reveals Sportradar Contract Details -
The partnership between the PLC and Sportradar aims to provide a high-quality level of service to all Arabian Gulf League stakeholders in addition to making verified official data about players performances available to coaching and scouting staff and supplying match information to media outlets.
NFL Odds: Steelers Visit Undefeated Chiefs #TNF -
The Kansas City Chiefs (5-0 SU and ATS) have been flawless as an NFL pick thus far. Their chances of remaining undefeated in Week 6 look good; after opening at –4.5, Kansas City is a 5-point home chalk for Sunday’s game against the Pittsburgh Steelers (3-2 SU, 2-3 ATS), beginning at 4:25 PM ET on CBS.
Mega Moolah strikes again -
The jackpot was hit on a mobile device on Sunday 1 October 2017 by a UK player on Betway, this time awarding a £1,448,116.31 pay day.
2 New Slots For Microgaming Casinos -
David Reynolds, Games Publisher at Microgaming, comments: “On top of our branded title game Halloween, we’re delivering two more slots this October, each bringing exciting features and a different theme.
MLS Odds: Red Bulls vs. Whitecaps -
The New York Red Bulls (12W, 12L, 7T) haven’t won a match since August 15, but they’re –165 favorites this Saturday against the visiting Vancouver Whitecaps (15W, 10L, 6T), beginning at 5 PM ET. Vancouver is a +475 underdog with the draw priced at +285.
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