Florida investor Glen Straub has kicked from the auction bidding on Revel for $90 million.
Atlantic City’s Revel Casino is up for auction grabs, and a Florida real-estate designer has provided $90 million in cash to acquire the house which was shut down for good a week ago. Glenn Straub, whom owns the 22,000-acre Palm Beach Polo and Country Club in Wellington, Florida, will now end up being the ‘stalking horse,’ or bidder that is lead who may be outbid by competitors at an auction on September 24. Other buyers that are potential until September 23 in order to make offers.
Straub said this week that their offer ended up being ‘an opportunity to turn things around. That’s what they need right now; a direction that is new’ he added. ‘Give us our six months, so we’ll actually physically most probably. In two years, we’ll be 100 % open.’
Which begs the relevant concern, just what are open, precisely? It appears unlikely that Straub will reopen Revel as being a casino; the Revel Casino project, after all, ended up being a cataclysmic $2.4 billion failure with huge costs that are operational had been hemorrhaging $2 million a week when it shut. And besides, it seems Straub has a dislike that is personal of.
‘When everybody thinks of Atlantic City, they think of casinos,’ Straub told United States Of America Today, adding he dislikes the idea of Atlantic City as a casino city and is uncomfortable 続きを読む