Borgata has been successful because they have this local big mouth clown, Angelo Cataldi do his radio show there each Friday morning. He sits there on the radio talking about the Borgata Babe cocktail waitresses and their big breasts for about 4 hours each Friday. Once and a while they actually talk and take calls about Philadelphia sports teams.

I'm sure someone will pick it up... at a steep discount... and it'll re-open eventually.

Surprised no one ever plummeted to their death on that wide-open 800 story escalator ride from the front up to the casino.

The place is pretty damn nice, in my opinion, except the fact they have no poker . . . Friend has a gold card membership there which is 2 nights a week and it was great to chill out there and Harrahs or wherever you wanted to go to play was just a cab ride away

Honestly I just want it to come back and have my friend keep his membership, however unlikely that may be.

It wouldn't surprise me that within 5 years every casino in Atlantic City including Borgata closes down. Or maybe Borgata remains the last 1 standing but I think it's safe to say that the gambling era in Atlantic City is nearing its end.

I was surprised at the interior of Revel on my first trip. I expected it to be as nice or nicer than Borgata, but the casino floor was pretty much on par with Harrah's Chester.

Maybe the rooms are real nice, but I don't see anyone over 27 choosing to gamble at Revel over the Borg. That place was planned, funded and built in a time when anything you threw up would be successful and those days are doubly long gone.

Hopefully some classy group picks it up and renovates. Could be a real steal for a private group looking to purchase big assets before major post-recession inflation hits and just as consumers are making a mild comeback.

http://www.pressofatlanticcity.com/n...fb314258f.html

Today is the final day for bids to be accepted for Revel.

Tomorrow, September 24th is the Auction.

Here is an article about what Straub may want to do with the property.

http://news.yahoo.com/atlantic-citys...220139442.html

Is this guy talking about Atlantic City? Is this guy for real? He supposedly did submit the bid with $10 Million. Was this a tongue in cheek interview?

One disturbing quote:
Quote:
His ideal student would be "free, white and over 21," he said, using a politically incorrect way to describe someone with no financial obligations.

This is the guy who also said, if it didn't work, he would blow it up like he did the Miami Arena.

In the article a local representative summed it up:
Quote:
"When you start off with these kinds of ideas, to my eyes, it doesn't give you a whole lot of confidence," said Democratic Assemblyman Vince Mazzeo, who represents Atlantic City. "But this gentlemen, if he ends up buying it, he's going to have to open those doors, which equates to employment."

??????????????

Yeah, not sure what he was thinking with that one. It's an old timey expression, though one with with obvious racial undertones -- i.e. when coined, being free, white, and 21 were hallmarks of having every privilege in life and hence having the freedom to do whatever you wanted in this world. In 2014, um....may want to have a chat with your HR folks. He basically just gave any employee of his whether now or in the future all the prima facie evidence needed for a discrimination claim.

http://news.yahoo.com/atlantic-citys...JUrmgAoSzQtDMD

http://www.philly.com/philly/busines...pt_Revel_.html

Auction should have started 2 hours ago. 2 Additional Bidders. $94 Million start point?

Bidders had to be vetted before start. Straub will get $3 million if he LOSES. That would be a quick return on the $10 million he put up to start the bidding.

Bankruptcy Judge tentatively set to rule on September 30th.

"A University for geniuses paid for by large companies"??? Or...... maybe just a Hotel/Casino Resort?

And.......... the Drama C O N T I N U E S..........

Nothing happened at The Auction today.

6 Hours and postponement until next Tuesday, September 30th.

Read more at http://www.philly.com/philly/busines...PhDYqsH2gZQ.99

The only one talking is Glenn Straub's lawyer, Moskovitz. He seems to be upset that some one else was negotiating with the Revel Lawyers today. Why would he be upset? If Straub loses Straub gets a $3 million breakup fee - better than token payout for some one who get eliminated on the bubble.

A Revel tour could be a great Halloween experience with everything shutdown.

there were 2 more bids today, but no record of weather they were qualified.

One from a real estate developer and the other was some sort of "out of state gaming interest."
(can't remember the name of the family? the mom bid $24 million on Atlantic Club and Ichan didn't take it, and the son, who owns a casino in Reno tried to get into the market here before, a low ball $20 million bid) My guess is they're the other bid coming off 2 previous unsuccessful attempts to buy in on the boardwalk.

Pretty sure Straub is looking to make 30% and GTFO. You don't usually refer to a 90mil investment as a "monstrosity" at the time of purchase?

Is Lock funds enough to buy Revel? I'm sure they will take an IOU.

The Auction was slated to start with 4 bidders now mentioned. Interesting an "off shore" company that wants Revel to continue as a casino is one of the potentials.

Who could that be? Amaya is now on shore in Canada.

http://www.nj.com/news/index.ssf/201..._continue.html

BID ACCEPTED.

http://news.yahoo.com/toronto-firm-w...xUAygARl_QtDMD

The $2.3 Billion property goes for $110 Million pending the Bankruptcy Judge approving next Tuesday.

Nice that it will reopen as a casino under competent management.

i saw that the other guy that bid 90 million$ wanted to turn it in to a university

It also says he plans to challenge the sale next Tuesday at the hearing.

Its just prolonging the death spiral. They own it now, I dont know what the rules are in terms of how long they have to hold onto it, but it would not surprise me if they gut most of it and just keep a fraction of it open as a casino. Transfer the slots, gaming, and technical equipment off to their casinos outside the US, then file for bankrupcy.

Revel cant turn a profit as a casino. It isnt possible. I would have much preferred a University or convert it for public use. Let homeless people sleep there, halfway home, rehab center, museum, whatever. Another casino is the last thing AC needs.

How would it be better for AC and NJ to turn the lavish property into something that contributes nothing in property, income or gaming tax revenues?

http://www.pressofatlanticcity.com/n...08d73f066.html

The owner of the Atlantis in the Bahamas and the Hard Rock in LV bought the Revel. They plan to use it as a casino.

Buyer is actually part of a larger Canadian real estate holding company.

AC is still a mess..but this is definitely welcome news for the city and many of Revel's former employees. I actually liked the casino. Wish they had set up a bunch of things differently, but overall a fun place to hang out.

100 mill for a 2.5 bill property. What happened with all the equipment furniture etc was it sold off or still in casino?

Probably still there with that dump I never flushed