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Will you be able  to enjoy

Revel Atlantic City in 2015?

Will people enjoy Revel’s pool this summer?

Revel Atlantic City and its legal drama are making quite a buzz in the city. The casino is no longer a strong suit for Atlantic City. It has actually become a problem. Revel Atlantic City was one of the four casinos that were closed due to the wave of bankruptcy that overtook Atlantic City last year. Plans to sell the casino failed several times. Revel was initially set to be sold to Brookfield Asset Management for $110 million in an auction in September 2014. Two months later in November, Brookfield Management pulled out of their deal. Next in the line was the owner of Polo North Country Club Inc, Glenn Straub. The Florida developer made a bid of 95 million. He was a back up bidder in case Brookfield Asset Management withdrew from the deal.

Revel Atlantic City to Reopen or Not?

A light at the end of a tunnel for Revel Atlantic City could be seen when a federal bankruptcy judge officially gave the stamp of approval to sell Revel Atlantic City to Glenn Straub on January 2015. Three days later, Straub announced that he had a list of big plans for Revel Atlantic City. Straub aspired to reopen Revel Atlantic City by the summer of 2015.

Some of his goals included designing the largest water park in the world and a Polo field with the former building of the casino. He wanted to develop the upper floor condo, new restaurants, renovate the Revel Atlantic City hotel and casino. He also declared that he wanted a high speed ferry from New York City to the casino.

Sadly, things went downhill for Revel Atlantic City once again. The deal with Glenn Straub was cancelled by Revel AC on February 2015. They pulled the plug on the contract when Glenn Straub could not meet the deadline. He failed to pay $95.4 million on the due date. Moreover, Revel AC decided to keep Glenn’s $10 million deposit. They are now looking for another customer.

On the other hand, Glenn Straub does not want to let go of the casino just yet. For those of you who are wondering what is going to happen now; the news is that Revel AC and Glenn Straub will be appearing in bankruptcy court in Camden this week. Apparently, Straub will ask the judge to extend the deadline to 28th February 2015. Alternatively, Revel will ask the judge to approve the cancellation of the sale. They also want to keep the deposit of $10 million as well.

UPDATE:  This deadline had passed,  and  things  went from  bad to worse today March 13 Fri, as a federal bankruptcy judge ruled against a deal to sell the  troubled property to Glenn Straub.

What did Revel Atlantic City used to be?

Founded in the year of 2012 on 2nd April, Revel Atlantic City was one of the high-end casinos in Atlantic City, New Jersey, United States. Situated in northernmost portion of the Atlantic City Boardwalk, Revel had a hotel, a resort, two nightclubs, thirteen restaurants, two live entertainment centers, several outdoor pools, cabanas, fire pits and a pine grove with thousands of plants. Let’s see whether Revel Atlantic City will reopen or not.

The  good  news is  that while the  Revel  Atlantic City  is up in the air, the Tropicana Atlantic City  has  big plans.