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Thread: TEN Resort(Former Revel) Reportedly Sold in AC.

  1. #1

    TEN Resort(Former Revel) Reportedly Sold in AC.

    https://www.njgamblingsites.com/8343...c-city-future/


    After a couple years of promising to open the Former Revel Resort in Atlantic City, it is reported that Glenn Straub has an offer north of $220 million to sell the property. Seems as if his days in charge of this property are numbered. He has been at odds for months with gaming officials claiming he doesn't need to file for a gaming license since he was planning on renting the space to a third party gaming company. After planning things such as an indoor water park, some creepy revolutionary wellness center and other ventures he's been a total disaster in Atlantic City. Should be interesting to see the landscape of Atlantic City in a year or two with Hard Rock International opening at the former Taj Mahal and possibly a new owner at the Revel.

     
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  2. #2
    Quote Originally Posted by DaGreek23 View Post
    https://www.njgamblingsites.com/8343...c-city-future/


    After a couple years of promising to open the Former Revel Resort in Atlantic City, it is reported that Glenn Straub has an offer north of $220 million to sell the property. Seems as if his days in charge of this property are numbered. He has been at odds for months with gaming officials claiming he doesn't need to file for a gaming license since he was planning on renting the space to a third party gaming company. After planning things such as an indoor water park, some creepy revolutionary wellness center and other ventures he's been a total disaster in Atlantic City. Should be interesting to see the landscape of Atlantic City in a year or two with Hard Rock International opening at the former Taj Mahal and possibly a new owner at the Revel.
    holy fuck if straub gets some sucker to pay $220M for that property it will be the heist of the century so far...to make $120-130M from that purchase would be hysterical...I wouldn't buy that property for more than salvage value...the overhead on that property was so much and the take so small that it couldn't be run profitably...

     
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