Deal closes on sale of ex-Revel casino; Straub new owner

April 7, 2015 5:54 PM

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Revel, the billion-dollar resort bust that was once widely viewed as the potential savior of Atlantic City's struggling casino industry, is getting a second chance as part of a Florida developer's ambitious plan to remake the East Coast gambling resort into a destination for bettors and tourists alike.

Revel's sale to Glenn Straub's Polo North Country Club was completed Tuesday after a complicated and torturous effort to find a new owner for the shuttered casino. His lawyer, Craig Galle, told The Associated Press the deal closed shortly after noon.

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