Map of New Jersey (Photo credit: Wikipedia)
Revel AC Inc. said in a bankruptcy court filing Wednesday that it had reached a deal to sell its $2.4 billion Atlantic City property to South Florida developer Glenn Straub for $90 million in cash.
The deal was reached Friday, according to the filing. That was less than a week after Revel closed, putting nearly 3,000 people out of work.
The offer is less than 4 percent of the casino’s original price tag.
“It’s not going to be just a casino,” Straub said. “There’s four people that would make excellent casino operators, but that building is much, much more than just a casino.”
Read more at http://www.philly.com/philly/business/20140911_Stricken_Revel_has_a_buyer_for__90M_in_cash.html#UYw7HbKdWPWbAI8K.99
Roy's Rants - For Your Information 