![Deal For Glenn Straub to Buy Revel Officially Dies](http://townsquare.media/site/385/files/2014/08/452928242.jpg?w=980&q=75)
Deal For Glenn Straub to Buy Revel Officially Dies
A second deal to sell the former Revel Casino in Atlantic City has died.
Thursday afternoon, a bankruptcy court judge approved Revel's termination of a deal to sell the closed casino to Florida developer Glenn Straub for just over $95 million. Straub said his group was unable to meet a February 9th deadline because he was not sure if he would be forced to accept some existing tenants at Revel if he opened the casino. A $10 million deposit from Straub is now being held in escrow.
This latest set-back to sell the multi-billion dollar failed casino comes on the heels of the first deal that fell-through last November involving Brookfield Asset Management.
Straub quickly became a household name in Atlantic City last year as his plans for the casino became public, which ranged from the building being used as a college for geniuses to solve the world's biggest problems to the facility having the world's largest water park.
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