The Real Deal New York

South Florida developer gambles on Atlantic City

Glenn Straub has bid $90 million on the Revel Casino Hotel

September 14, 2014 03:00PM

The Revel Hotel Casino in Atlantic City, N.J.

The Revel Hotel Casino in Atlantic City, N.J.

From the South Florida website: A Wellington-based developer made a $90 million bid for a bankrupt casino in Atlantic City and says he plans to invest $1.5 billion the property. Glenn Straub’s offer for the Revel Casino Hotel went public Wednesday after the contract was filed in bankruptcy court in New Jersey, according to the Palm Beach Post. The hotel was the setting of football player Ray Rice’s domestic violence incident in February. [more]

  • art

    WHY!?
    The REVEL made an attempt to bring upscale luxury gaming to the boardwalk and that failed as that market does not exist there.
    AC is over that is why all the casinos are closing and or going bankrupt.
    The city is depressing, poor, crime ridden, dirty so why visit it and gamble?
    At least the Borgata and Harrah’s will last but the ocean front casinos will slowly disappear.

    • tj

      @art
      What you say is so true.
      AC is no longer happening@

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