Florida developer Glenn Straub’s eyes might be gleaming right now after New York-based private equity firm tendered a $220 million offer to the shuttered Revel Hotel and Casino.
The offer of the still unnamed equity firm is quite hefty since the $2 billion facility at the north end of the Atlantic City boardwalk was bought by Straub for $82 million in bankruptcy court in August 2015.
According to the Press of Atlantic City, the firm made the offer to purchase the resort in the last 10 days through Digital Launch. The offer was reportedly tendered through Straub’s lawyers in Florida.
Straub, for his part, quickly shot down the report saying that no one has approached him yet over the sale of his shuttered facility, which he renamed TEN.