Judge enters final sale order for Atlantic City's former Revel casino; deal to close soon

IndustriesAssociated Press

A judge has entered an order authorizing the sale of Atlantic City's former Revel casino to a Florida developer, and the $82 million deal is expected to be finalized on Monday.

Judge Gloria Burns issued the order Monday morning, and a closing on the deal between Revel AC and purchaser Glenn Straub was expected to be completed shortly afterward.

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The judge's order left unresolved one of the stickiest aspects of the sale: the rights of former business tenants at Revel to continue to operate there once Straub re-opens the property.

The judge verbally approved the sale last week, on the fifth attempt to sell the casino.

Revel opened in 2012 at a cost of $2.4 billion. It sold for about 4 cents on the dollar.