A federal bankruptcy judge yesterday said that she would approve an $82 million sale of Atlantic City's Revel Casino Hotel to Florida developer Glenn Straub, Reuters reported yesterday. Bankruptcy Court Judge Gloria Burns said that she would sign off on the deal, the third one she has approved. The previous two agreements failed. The offer, from polo club owner and distressed real estate mogul Straub, is a far cry from the $2.4 billion it cost to build the gleaming casino complex. Revel opened in 2012 to much fanfare, but it never turned a profit and went bankrupt twice. Judge Burns delayed the approval in part to see if other interested buyers could finalize deals, but none did. The judge noted that Revel's estate was losing money every day as it waited.
