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Enjoy Atlantic City on Auction Block for $90 Million Starter Bid

Enjoy Atlantic City on Auction Block for $90 Million Starter Bid

Florida investor Glen Straub has kicked off 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 money to acquire the home which was shut straight down for good week that is last. Glenn Straub, who has 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 possible purchasers have actually until September 23 to help make offers.

Straub said this that his offer was ‚an opportunity to turn things around week. That is what they need right now; a direction that is new‘ he included. ‚Give us our six months, so we’ll actually physically be open. In 2 years, we’ll be 100 percent open.‘

Which begs the question, exactly what are going to be open, exactly? 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 operational costs that had been hemorrhaging $2 million per week when it closed. And besides, it seems Straub has a dislike that is personal of.

Casino Doctor

‚When everybody thinks of Atlantic City, they think of casinos,‘ Straub told United States Of America Today, adding which he dislikes the concept of Atlantic City as a casino town and c Weiterlesen