Another Revel Setback

The ongoing Revel saga continues. A federal bankruptcy judge has nixed a proposed Revel deal that once again puts the closed casino in limbo.According to the Press of Atlantic City,  Chief U.S. Bankruptcy Judge Gloria Burns, did not accept the $82 million dollar deal from real estate developer Glenn Straub, because of several appeals concerning the sale are still in front of a federal court. Glenn Straub's offer to buy Revel now becomes the third deal to fall apart.

Revel's bankruptcy parent was looking for much more the the $82 million Straub had offered. Revel AC, would like $200 million for the closed casino and the adjacent property.

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