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Revel Deal Still Not Final
Thursday March 5,2015 : REVEL SALE DEAL NOT FINAL YET (Update)
Bankruptcy court judge extends sale window by a further week.
Florida property developer Glenn Straub may have thought his sale agreement and payment of $82 million to the owners of the bankrupt Revel building in Atlantic City sealed the acquisition deal but on Wednesday Judge Gloria Burns refused to ratify the sale and extended the sales window by a further week.
The reason for yet another delay in this long-running story is that a new player in the form of Los Angeles property developer Izek Shomof has rather belatedly flagged an interest.
That Judge Burns granted the extension despite Shomof's so far unofficial bid being $2 million lower than Straub's has mystified many of those who have been following the controversial sale of the Revel skyscraper, built just two years ago for $2.4 billion.
And as Straub's legal representatives have already pointed out, Shomof's bid is at present informal and comes with no firm proposals or guarantees.
Shomof, on the other hand, justifies the extension by saying that his experts were only recently furnished with financial information and given permission to take a look at the property in order to prepare a detailed offer.
Judge Burns said Wednesday that in granting a further week before confirming any sale she was giving Revel AC and potential bidders time to work out the best possible deal for the casino complex.
Any deal will impact existing restaurant and other leaseholders presently occupying the building, and there remains the matter of millions of dollars owed to the building's power generating company.
"If there is something else out there, if you could come up with an offer that's more palatable to the objectors, maybe they won't object," Judge Burns said, setting a new hearing for March 12.
Danske Spil Bingo Moves to Microgaming -
The national lottery of Denmark, Danske Spil, is live on the Microgaming Bingo Network. Danske Spil, the Danish national lottery, is live on the Microgaming Bingo Network following a change to its licence conditions.
Quickfire live on Strendus -
Quickfire powered by Microgaming is extending its reach in the LatAm region with the signing of Strendus. Strendus is the online division of Logrand Entertainment Group. The group comprises several companies that operate gaming and entertainment establishments in Mexico, running 14 land-based casinos in total.
Quickfire content live on BetatHome -
Online gaming and sports betting company bet-at-home was founded in 1999. Today the company has 4.8 million registered customers around the world, offering sports betting, casino, live casino, Vegas games, poker and virtual sports.
Microgaming has donated £30,000 between four charities -
Gift of Giving provides Microgamingís customers the opportunity to vote for one of several charities in their region. In lieu of Christmas gifts, £30,000 is split equally between four global regions: Isle of Man, UK and Europe, Africa, and Rest of the World.
Entertainment Betting Odds: 90th Academy Awards -
The Shape of Water leads Sundayís 90th Academy Awards (8 PM ET, ABC) with 13 Oscar nominations, but when it comes to Best Picture, this highly-acclaimed film is a +140 second-favorite behind Three Billboards Outside Ebbing, Missouri at Ė115.
Fair Play Bets and QuickFire in Deal -
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Cavaliers Aim to Take Down Wizards on 2/22/18 -
The Cleveland Cavaliers have looked like a different team since making their moves at the trade deadline. The Washington Wizards are up next for the Cavaliers, who will be at home after the All-Star break.
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