Reports: Revel deal in AC undone

DSCN0328

A second deal to buy up Atlantic City’s newest — and most expensive– casino has fallen through, according to Philly.com.

Revel AC Inc. on Tuesday asked for “bankruptcy court permission to end its deal with Florida investor Glenn Straub,” after Straub didn’t complete the $94 million acquisition by a midnight deadline, according to the report.

“If Judge Gloria M. Burns approves the termination at a hearing Wednesday, it would be the second time a deal to sell the $2.4 billion complex was aborted,” the report reads.

Revel declared Chapter 11 bankruptcy before shuttering its doors in September of last year.

Read more here.

Reports: Revel deal in AC undone