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Revel sold almost, kind of (for real this time?)

Last edit: etm117 on Tuesday, 6th January 2015 7:03 am
Last response by anawas 6th January 4:48pm

The judge is ready to approve the sale for $95.4M but the buyer wants it back at the original offer they had of $90M. But it seems they may be close now.

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 blakjak21 responded on Tuesday, 6th January 2015

He actually only wants to pay $87 million. He most likely won't get it at the price. I don't think that he's the best buyer for this place, BUT he's all there is. Hopefully this whole process doesn't drag on and the place re-opens quickly and most of those former employees can get back to work.

 vespajet replied on Tuesday, 6th January 2015

The guy that is now trying to buy it isn't interested in reopening it as a casino.

 Chuckmonster replied on Tuesday, 6th January 2015

"Straubís plans for the failed resort remain unclear, and he declined to detail them during a break in Mondayís hearing. In the past, heís said there will be a casino at the property but that gambling wonít be the dominant draw. Heís also discussed building a second tower at Revel and creating a university colonized by geniuses working on pressing global problems, such as nuclear waste disposal."

To investors, Revel does appear to be nuclear waste.

 vespajet replied on Tuesday, 6th January 2015

Still not as crazy as the Showboat being turned into a college campus.

 hail2skins responded on Tuesday, 6th January 2015

I'm interesting in seeing how the Taj does over the next few months now that they are staying open. Business was plummeting in the few months prior to Icahn deciding to keep it operating.

And will either of the remaining Caesars-owned placed on the Boardwalk fall victim to the company's woes?

 anawas replied on Tuesday, 6th January 2015

Not that it deserves to, but I'm guessing the main part of Bally's will close sometime this year.

Bally's doesn't have Caesars' theme or anything else to differentiate it from a generic casino / hotel. And CET already closed the making-a-profit-at-the-time Showboat, so there's definitely precedent.