Revel sale expected to close by tomorrow as casino sells for pennies on the dollar

April 6, 2015 7:57 PM

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Florida developer Glenn Straub's company, Polo North Country Club, has agreed to buy the shuttered casino for $82 million. Straub's attorney, Stuart Moskovitz, said they have until Tuesday to close on the sale but the deal could be finalized later Monday.

Though other potential buyers had recently expressed interest in the property, attorneys for Revel said at a court hearing last week that Polo North was still the only party with money on the table. U.S. Bankruptcy Judge Gloria M. Burns said on Thursday she would approve the deal. Burns entered the ...

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