Los Angeles Developer Interested in Buying Revel From Under Straub
The saga of trying to find a new owner for the failed $2.4 billion closed Revel casino continues as a developer from Los Angeles is now apparently interested in buying the facility out from under Glenn Straub.
According to The Philadelphia Inquirer, Leo Pustilnikov, a partner of developer Isek Shomof, who is described as a prominent redeveloper of old buildings in downtown Los Angeles, said, "We submitted an offer and provided proof of funds for the entire purchase."
Just last week, Revel resuscitated its on-again, off-again deal with Florida developer Glenn Straub, at a purchase price of $82 million, down from a previous $95.4 million, as the deal faces opposition from companies that owned businesses inside Revel.
Shomof is expected to be in Atlantic City today to tour the area.
- The Philadelphia Inquirer: L.A. developer interested in Revel Casino Hotel