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MORE DELAYS IN REVEL SALE

Sunday February 01,2015 : MORE DELAYS IN REVEL SALE (Update)
 
Winning bidder threatens to pull out of sale as tenants oppose auction deal.
 
Yet another delay has complicated the auction sale of Atlantic City's Revel casino building following a judicial delay after nightclub and restaurant tenants of the building launched litigation, claiming they would be wiped out by the sale to Florida developer Glenn Straub, who has yet to decide what he will do with the building.
 
The tenants claim that they have invested tens of millions in their establishments and would be seriously disadvantaged by the bankruptcy auction of the two-year-old building, originally built at a cost of $2.4 billion, to Straub for $95.4 million.
 
Third U.S. Circuit Court of Appeals Judge Thomas Ambro ruled late Friday that Revel has until 4 p.m. Tuesday to respond to the appeal from IDEA Boardwalk of a federal judge’s decision.
 
IDEA Boardwalk and other former Revel tenants originally asked U.S. District Court Judge Jerome Simandle to delay the sale but he denied the request January 21, saying that Revel and Atlantic City would be harmed by a delay.
 
Revel lawyers said Friday that they were confident the appeal would fail and the sale would go through as planned on February 9, however, lawyers representing Straub have threatened to walk away from the deal if the sale is delayed.
 
That would cost the Florida developer the $10 million he has already deposited, a penalty a potential Canadian buyer, Brookfield Asset Management, similarly paid for withdrawing from its winning Revel bid last year.
 
In an interesting twist, local media reports indicate that a company that runs Hard Rock casinos for the Seminole Indian tribe has been granted approval to operate a casino in Atlantic City... and its chief executive says he has had conversations with Straub.



Gambling News :

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.

Abdelaouhab Zizi Wins MPNPT Morocco Main Event - Abdelaouhab Zizi has defeated fellow Casablanca resident Fadhil Farag heads up to win the 2018 MPN Poker Tour Morocco Main Event and MAD 375,000 (c. €33,220) after a two-way deal.

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.<

NY Rangers vs. Devils on 12/21 - When the Devils and Rangers hit the ice on Thursday (7 PM ET on MSG), so too will two of the league’s top netminders. After a slow start to the season, Henrik Lundqvist has returned to his form of old. Through 29 games, he’s posted a 2.59 goals against average, and a .920 save percentage.

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