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Revel Atlantic City Sale Approved
Friday April 3,2015 : REVEL DEAL APPROVED AT LAST (Update)
Florida developer gets the sale...and has ambitious casino plans.
After months of debate and several false starts in the New Jersey bankruptcy court, the sale of the Revel building has finally been approved to Florida developer Glenn Straub for $82 million.
Revel went bust just two years after it was constructed in Atlantic City at a cost of $2.4 billion, and has been the subject of auction offers and withdrawals, and judicial delays, for most of this year.
On Thursday Judge Gloria Burns finally made her decision after Straub agreed to drop his demand that the sale go through "free and clear of encumbrances" like the tenants' leases. Judge Burns said that issue should be worked out with Straub outside of bankruptcy court.
Legal representatives for Straub and Revel's owners will have to wait until Monday to close the sale after late arguments prevented Judge Burns from signing and entering an official order.
Media reports indicated that Straub intends to invest around $150 million in reconfiguring the almost new multi-storey Revel building.
The developer also reportedly said that he has arranged to buy several casinos or former casinos in Atlantic City as part of a $500 million, multi-faceted deal, more details on which will be released soon.
Straub's original auction agreement to buy Revel for $95 million failed to close on time, necessitating his later, lower offer. Before that, Toronto-based Brookfield Asset Management backed out of its $110 million auction agreement, forfeiting its $11 million deposit.
Gambling News :
Michael Myers is back in Halloween Slot Machine -
Get ready for a blood-curdling adventure with Microgaming’s latest offering – Halloween Follow Annie, Lynda, Doctor Loomis, and our heroine Laurie as they try to survive the ultimate horror movie villain, Michael Myers.
Joe Fortune new Rewards Program -
Once you sign up, you’re automatically enrolled in the rewards program – and that’s when the epic journey begins. You’ll start earning Adventure Miles immediately, and can embark on the quest of a lifetime: To get paid to play, which stays true to the rewards program’s slogan, ‘Play More Get More’.
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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