The company hopes to emerge from bankruptcy in early summer. It will keep operating while exchanging debt for equity. Most important, however, is the return of jobs, revenue and even some hope to a city which, itself, is struggling near bankruptcy and fighting the specter of a government takeover by the State of New Jersey. Revel casino in Atlantic City has filed for bankruptcy protection. Naturally, casino gaming will still be a large part of the property’s draw, and many of the restaurants and nightclubs that inhabited the Revel during the first go-round have expressed interest in returning. Chris Christie (R) placed a bet that this down-on-its-luck city was about to turn around. With some crazy and some very interesting concepts (a “ropes” fitness course is already under construction), Straub is, at the very least, injecting some much-needed creative energy and life into the hulking structure. ATLANTIC CITY Underneath the gleaming new tower on the north end of the boardwalk, Gov. Florida developer Glenn Straub purchased the $2.4 billion property for a bargain price of $82 million and immediately began announcing ideas for the empty building. ![]() ![]() Photo: Courtesy of Tishman Construction.įast-forward almost two years and more than a few court proceedings later, and the reopening of Revel (under an as-yet-unannounced new name) appears to be imminent. Opening in April 2012 and closing September 2014, the building was in operation less time than it took to construct it.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |