Report: Firm buying Revel casino for $200M; Straub denies it
ATLANTIC CITY, N.J. — A Wall Street ratings firm said Monday that a Colorado company is buying Atlantic City’s former Revel casino for $200 million, but the mercurial owner of the shuttered casino insists there’s no deal.
Moody’s Investors Service issued a report Monday saying the $2.4 billion casino will reopen in May under the ownership of AC Ocean Walk LLC, a group controlled by developer Bruce Deifik. Moody’s says its report was based on talks with the buyers, who outlined their plans to the agency.
But Glenn Straub, who bought Revel from bankruptcy for $82 million, insists he hasn’t sold it to anyone.
“No … way,” Straub told The Associated Press. “Categorically, there is no deal.”