Revel Casino auction – judge finally OKs sale of AC hotel to Florida developer

CAMDEN, N.J. (AP) -- A bankruptcy court judge has finally approved the sale of Atlantic City's former Revel casino to a Florida developer.

Judge Gloria Burns approved the deal, which did not address the rights of former business tenants at the casino to operate there when it reopens.

She says the issue of whether tenants can remain there should be worked out with the buyer, Glenn Straub, outside of bankruptcy court.

Thursday's approval came on the fifth attempt to sell Revel.

Straub's Polo North Country Club is buying the casino, which cost $2.4 billion to build, for $82 million.

He has proposed a vast array of uses for the property, including a scaled-down casino, hotel, condos, a water park, and a "genius academy" where the world's top minds would tackle society's biggest problems.
© 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Learn more about our Privacy Policy and Terms of Use.