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Revel casino atlantic city nj11/20/2023 ![]() This settlement followed several months of contentious negotiations involving Revel, Straub and ACR Energy Partners LLC, the operator of its custom-built power plant. Settlement allows Revel to resolve negotiations owned by real estate developer Glenn Straub, with the proceeds from the sale set to repay creditors. In the plan, the $2.4 billion casino will be sold for $82 million to Polo North Country Club Inc. Since its opening in 2012, the twice-bankrupt casino failed to turn a profit, ultimately leading to its Chapter 11 filing for bankruptcy protection in June 2014. The long Chapter 11 process for the Revel casino finally ended after settlements were reached with creditors. The ruling resolves Revel’s long Chapter 11 case with a proposal that permits the casino to repay $45 million in debt for roughly $5 million.
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