Report: $90 Million Cash Offer Made for Revel
Reports say Revel could be purchased by a Florida investor for $90 million.
Lawyers for Revel say Glenn Straub, a Florida real estate investor, has offered to buy the shuttered Casino for $90 million cash. The Press of Atlantic City is reporting if no other qualifying bidder is received by a September 23rd deadline, Straub would be the buyer of the $2.4 billion property. A bankruptcy court judge would ultimately have to approve any sale. If the sale goes through, It's unclear if the property would reopen as a casino.
This is a breaking news story -- we'll update it as more information becomes available.