It Looks Like Glenn Straub Will Buy Revel After All
In what has been a roller coaster ride for the vacant Revel Casino, Florida Real Estate Developer Glenn Straub may come out as the new owner of the glass tower after all.
Straub announced an 82 million dollar deal to buy Revel Casino and Hotel. It's quite a different deal than the 95 million dollar deal back in September, not to mention the resort cost 2.4 billion dollars to build.
The deal is set to close on March 31, pending yet another Federal Judge decision. According to our sister station, WPG Talk Radio 1450:
At least a portion of the mega-resort to open by this coming summer. Straub’s lawyer, Stuart Moskovitz, told the Associated Press, “Polo North is working diligently with its team to finalize an operational plan for the property to be successful, not just `business as normal,’ as was done in the past. These plans include major construction of a $50 million-dollar-plus expansion of the exterior area of the building, and a $50 million-dollar-plus relocation of items such as a more accessible hotel lobby and a large medical-health spa and facility.” When the facility reopens, it will not be called Revel, but a new name has not been announced yet.