The new owners will invest another $175 million to reopen in May 2018 for a total invested capital of $375 million.” 30, paperwork was filed with the Atlantic County clerk’s office of a “notice of settlement contract of sale.” However, it was not signed and did not list a purchase price.Īccording to Moody’s, the vacant Revel “is being acquired for $200 million - well below the estimated $2.6 billion cost to build. This is the third time in recent months that a report has surfaced that a deal may be in the works to acquire the failed Revel casino. At this point, we don’t have any confirmation.” “A couple times we’ve thought it’s been sold, or there’s been a buyer, and it turned out not to be true,” said Chris Filiciello. I think they try to make news.”Ītlantic City mayor Don Guardian’s chief of staff said that the administration has no confirmation that the casino is sold, or close to being sold. “We’ve told everybody: we don’t know who these people are. I would know something like that,” Straub said. “I know who Moody’s is, but I don’t know who in the hell this A.C. ![]() ![]() He said he knows nothing about the Colorado company wanting to buy it. The shuttered Revel’s owner, developer Glenn Straub, said Monday the Revel is not under agreement of sale. According to the proposed financial plan, AC Ocean Walk would operate 100 gaming tables, 2,000 slot machines, 1,399 hotel rooms, pools, a spa, night clubs and 13 restaurant options.
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