A federal judge has approved an $82 million sale of Revel Hotel and Casino to real estate developer Glenn Straub. The deal is expected to officially close on Friday and was approved by Chief U.S. Bankruptcy Judge Gloria Burns. Five groups with interest in purchasing Revel were present in Camden today for a important hearing on Revel's status.

The Revel Hotel and Casino cost over $2.4 Billion to build only to close its doors in less than three years time.