Former Martin Downs County Club owner offers $90 million for Atlantic City’s Revel Casino

The Revel (Source:


NJBiz reports: A Florida developer [Glen Straub, a former owner of Martin Downs County Club] has offered $90 million to buy Revel Casino Hotel, the failed $2.4 billion megaresort in Atlantic City that closed last week after failing to ever turn a profit. It’s not clear if Straub intends to reopen Revel as a casino or if that’s covered by the purchase agreement.

The gleaming property — built at a cost of $2.4 billion — has been crushed by debt and the competition from casinos in nearby states that has crippled the resort town in recent years.

For the complete story:$90-million-offer-from-Florida-developer

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