Revel casino asks court to allow sale to close
On Friday, 3rd U.S. Circuit Court of Appeals Judge Thomas Ambro ordered the sale delayed while he studies legal challenges.
Revel Casino said in the Tuesday filing that the deal must close by February 9 or it could collapse. That would be "catastrophic," the filing said, because it would destroy US$ 100 million of creditor value, based on the sale price plus additional costs to liquidate assets.
Revel, which cost US$ 2.4 billion to build and opened just two years ago, closed on September 2 after filing for bankruptcy three months earlier. The bankruptcy court later approved a sale to Florida developer Glenn Straub for US$ 95.4 million.
IDEA Boardwalk, along with several restaurants that had also leased space inside the casino, in January lost a federal court challenge to the sale. The nightclub then appealed.
Revel was conceived as a Las Vegas-style resort that emphasized high-end dining and eye-catching design. The nightclub and restaurants were a popular aspect of the otherwise unsuccessful casino, and they were often full as the gaming floor and hotel rooms stood empty.
Virginia: Herndon moves to block casino plan as land dispute looms
Wynn Resorts profit rises in Q1 as Macau, Las Vegas drive quarter revenue growth
Wynn Resorts profit rises in Q1 as Macau, Las Vegas drive quarter revenue growth
Century Casinos cuts Q1 loss as revenue climbs to $137.2 million
DraftKings beats Q1 estimates, touts Super App growth in prediction markets
Algotech strengthens its trading technology ecosystem through collaboration with 55Tech
OpticOdds launches as first odds data API available via MCP for Claude Desktop
Riddec Games enters Nirmata Play distribution network through Stargate partnership
Flows secures Pennsylvania Gaming Control Board authorisation
1xBet's Simon Westbury discusses 1xPartners' philosophy, Best Affiliate Program win at SBC Awards Malta
Skilrock joins APLA Seminar 2026 as Silver Sponsor
