April 02, 2015
If Revel is the big gray elephant balancing a ball on its trunk and causing a circus in Atlantic City, then Florida developer Glenn Straub is its ringleader.
On Thursday, the Florida developer was seeking bankruptcy court approval to buy Atlantic City's former casino.
According to the Associated Press, which covered the , Straub's Polo North Country Club has an $82 million deal to buy the shuttered casino.
While testifying, Straub alluded to "a $500 million plan involving numerous locations in Atlantic City, including a marina, possibly something involving the former Bader Field airport, and other locations," AP reports.
"I can bring an additional 30,000 people a month into this city," he said.
According to the Press of Atlantic City, Revel has through April 6 to take other offers, with Straub’s deal set to close no later than April 7.
Revel, which cost $2.4 billion to build and opened two years ago, closed on Sept. 2 after filing for bankruptcy three months earlier. Revel was conceived as a Las Vegas-style resort that emphasized high-end dining and eye-catching design.
Read the full Associated Press article.
