News
Revel Sale on the Verge of Closing
April 7, 2015
Revel Casino Hotel's long, tumultuous road to new ownership is about to come to a close. A judge yesterday approved the bankrupt Atlantic City property's sale to Florida developer Glenn Straub's Polo North Country Club for $82M. The complex cost $2.4B to build before opening three years ago this month. And while the sale is expected to close in the next 24 hours, the fate of former tenants remains unclear. It's also too early to say when the property will reopen. Polo North last week revealed plans for its eight-phase, $500M "Phoenix Project" in Atlantic City, which could include picking up the former Showboat casino for $26M.
