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 property designer has provided $90 million in cash to purchase the property which was shut down for good week that is last. Glenn Straub, whom owns the 22,000-acre Palm Beach Polo and Country Club in Wellington, Florida, will now get to be the ‘stalking horse,’ or bidder that is lead who may be outbid by competitors at an auction on September 24. Other possible buyers have until September 23 to create offers.
Straub said this that his offer was ‘an opportunity to turn things around week. That’s what they need now; a direction that is new’ he added. ‘Give us our six months, so we’ll really actually most probably. In two years, we’ll be 100 % open.’
Which begs the question, just what will be open, precisely? It appears unlikely that Straub will reopen Revel https://slotsforfun-ca.com/quick-hits-slot-review/ as a casino; the Revel Casino project, after all, had been a cataclysmic $2.4 billion failure with huge costs that are operational were hemorrhaging $2 million per week when it shut. And besides, it seems Straub features a personal dislike of casinos.
‘When everybody thinks of Atlantic City, they think of casinos,’ Straub told United States Of America Today, adding he dislikes the notion of Atlantic City as a casino city and is uncomfortable with the notion of his family profitingRead More