Revel’s deal with Brookfield off

Straub had previously offered US$ 95 million for the shuttered property, which opened in 2012 at a cost of US$ 2.4billion.

Amid rumours that his revived Revel may include a casino run by a third party or perhaps no casino at all, the developer told the Philadelphia-based KYW Newsradio that his own plans for the property were not finalised.

“We never have to explain [our plans] ahead of time unless it is a bid condition,” Straub said. “It definitely wasn’t a bid condition.”

The Revel hotel and Casino that went to auction with winning bidder Brookfield Holdings beating Glenn Straub with a US$ 110 million bid is to be dissolved according to court documents filed this week in New Jersey.

Now the Revel want the court to cancel the deal with Brookfield as the company has introduced demanding new terms following the bidding process that the Revel say are simply impossible to meet.

It was in October that Brookfield beat Glenn Straub to the former US$ 2.4 billion resort that went into bankruptcy twice before going up for auction, now the Revel group wants the court to accept Glenn Straub’s offer of US$ 90 million.

Straub himself has filed an appeal against the auction winner following the winning bid,as he says the process was unfair, that in fact the motion failed but it seems like Glenn Straub will finally win out.