Revel Sale Finally Approved As Stockton Students Protest at Taj Mahal Over Showboat
As a bankruptcy court judge approved the sale of Revel to a Florida real estate developer, Stockton University students protested in front of its neighbor over Trump Entertainment's disapproval of turning Showboat into a college campus.
The fifth time is apparently the charm as the on-again, off-again, on-again court battle to find a new owner for the closed $2.4 billion Revel casino was settled Thursday afternoon as a bankruptcy court judge approved the sale to Glenn Straub for pennies on the dollar. Lawyers for both sides say they plan to finally close the deal on Friday.
And in an interesting side-note to the story, the Associated Press reports Straub says he has reached a deal to buy several casinos or former casinos in Atlantic City as part of a $500 million deal. Straub said details would be released on Saturday.
Meanwhile, just a couple blocks south of Revel at Trump Taj Mahjal, many Stockton University students and a handful of union members were protesting Trump Entertainment's decision to try to stop Stockton University from becoming a college campus. They are trying to enforce a decades-old covenant that says Showboat must remain a first-class casino hotel, putting the breaks on Stockton University's plans to turn the facility into a college campus. Trump Entertainment fears underage students will try to gamble at Trump Taj Mahal.