The shuttered Revel Casino Hotel in Atlantic City, N.J., again has a buyer — and again it's Florida developer Glenn Straub, who was lured back by a discounted price of $82 million, Reuters reported yesterday. The deal follows two failed sale agreements for the casino hotel, which cost $2.4 billion to build and is struggling to emerge from the second bankruptcy since it opened in 2012. Straub's previous purchase agreement was dogged by disputes with restaurants and nightclubs that operated in the hotel, which was distinguished by its eye-catching design. The developer said yesterday that he would invest $100 million to expand the exterior of the building and making the lobby more accessible. Straub said his three-year plan to integrate "quality of life and sports will help change the image of Atlantic City from a predominantly gaming destination back to a world-renowned resort town." Straub's Polo North Country Club Inc. has deposited the full purchase price with Revel.
