Another Revel Offer Has Emerged
An 88 Million Dollar offer may be on the table for Revel, and it would honor all of the tenants and restaurants.
Of course, Florida real-estate developer Glenn Straub may have something to say about that.
According to The Press of Atlantic City, 'An East Coast development group is prepared to put down $88 million cash for Revel. Revel attorney Michael Viscount declined to comment. In court papers Tuesday, Revel attorneys said the bankrupt company still plans to ask a federal judge Thursday to approve an $82 million sale to Florida businessman Straub.
“You better pack a lunch for Thursday,” Straub said Tuesday.
If things don’t go his way in a Camden courtroom, the property will be tied up in court for years, he said.
So once again, we are left with terrible options for the vacant casino. If the offer from the East Coast Development group is approved, Straub will most likely sue, and we'll still be looking at a very empty glass tower. At that point, a 'tower of geniuses' would sound better than nothing.