But the details are still hazy, and it’s not clear if the deal has or will go through. The resort’s owner claimed ignorance of the sale document.
What we know about Revel sale so far
The details of the sale of the former Revel are unknown. All we know is that a sale agreement exists. Per the Press of AC:
A Colorado-based company has filed an agreement of sale with the Atlantic County Clerk’s Office, signaling its intention to purchase the closed Revel Casino Hotel. … No price was listed in the document and the sales document has not yet been filed, according to the clerk’s database.
However, NJ Gambling Sites found the record at the clerk office’s website. You can view it here.
Owner Glenn Straub claimed not to have knowledge of any of it, however, according to the Press of AC report.
The buyer according to that document is Mile High Dice MGR, LLC, which is based in Colorado. A search of the internet reveals nothing about that group’s background.
Still TEN AC or not?
Straub planned to reopen the resort as TEN. It’s not clear if that name and branding will live on.
However, it would seem a safe bet that the incoming owner would like to put its own stamp on the property.
On the other side of the ledger is that fact that the TEN brand and website have already been around for awhile, and at least some are familiar with the new name of a property that never actually hosted visitors.
The TEN website is still operational, and offers a planned opening of 2017, although that promise has existed for quite some time.
The end of the Revel saga, or the next chapter?
If indeed the sale of Revel goes through, it begins the next step in the infamous history of the troubled resort.
It was built at a pricetag of more than $2 billion, but it closed in 2014 after opening just a few years earlier.
After that, Straub bought the property for pennies and the dollar. Ever since, there have been promises of reopening the gleaming resort that have always come and gone with no actual action.
Is the Revel actually coming back? Is the sale a done deal? Will have to wait to see.
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