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NEWS
April 11, 2015 | By Amy S. Rosenberg, Inquirer Staff Writer
ATLANTIC CITY - Revel, the $2.4 billion former casino hotel sold this week for $82 million, went dark - literally - Thursday afternoon. Power was cut off around 2:20 after its supplier, ACR Energy, made good on multiple threats to new owner Glenn Straub and shut off the lights to the 6.2 million-square-foot, 47-story Boardwalk property. "Everything is out, it's a dead building," a security guard said after the plug was pulled. It was a hard-to-fathom turn of events even for the endlessly twisty saga of the Revel, once predicted to be an Atlantic City game-changer and now standing tall, dark, and empty in the unpredictable hands of Straub, a maverick Florida businessman and polo player.
BUSINESS
April 9, 2015 | By Amy S. Rosenberg and Harold Brubaker, Inquirer Staff Writers
ATLANTIC CITY - Glenn Straub was looking for the casino floor. Just hours after completing his $82 million purchase of Atlantic City's bankrupt Revel Casino Hotel, the Florida investor roamed the sprawling property Tuesday, punching elevator buttons, remarking on oddball details (a high-tech uniform delivery service accessed by fingerprint), joking, like any new beachfront property owner, about being able to house his friends in one of the extra bedrooms. He now has 1,800 rooms at his disposal.
NEWS
April 8, 2015 | By Dwayne C. Nelson, Inquirer Staff Writer
Matt Woods struck out seven, hit a home run and scored three runs to help Eastern roll to a 12-1 victory at Seneca in an Olympic Conference baseball game Tuesday. Ryan Keen, Corey Kreston, Tyler Dixon each doubled for the Vikings, who are ranked sixth in South Jersey by The Inquirer. Nonleague. Rich Bender tied Russ Spicer for second all-time in wins in South Jersey with 603 after Delran clipped host Pennsauken Tech, 16-0. Spicer coached at Haddonfield, Moorestown and Paulsboro.
BUSINESS
April 8, 2015 | By Harold Brubaker, Inquirer Staff Writer
As South Florida investor Glenn Straub takes over the bankrupt Revel Casino Hotel in a deal scheduled to close Tuesday, he brings something to Atlantic City that has been in short supply: Cash. Last week, just days before his expected purchase of Revel for $82 million, Straub put $26 million into escrow for another possible deal, acquiring the former Showboat casino from Stockton University. But the 68-year-old native of Wheeling, W. Va., also brings a no-holds-barred business style that has left many deeply embittered by their encounters with the serial buyer of distressed properties such as country-club developments, golf courses, and yachts.
NEWS
April 5, 2015 | By Jonathan Lai, Inquirer Staff Writer
Stockton University announced Friday afternoon that it would sell the former Showboat casino property to Florida developer Glenn Straub if it cannot overcome obstacles to create an Atlantic City campus there. Straub's Polo North Inc. would buy the property for $26 million, which is to be placed in escrow for 90 days. Stockton purchased the Showboat in December for $18 million and has spent additional money securing and preparing the site for occupancy. The university does not expect to profit from a sale.
BUSINESS
April 4, 2015 | By Harold Brubaker, Inquirer Staff Writer
U.S. Bankruptcy Judge Gloria M. Burns said Thursday that she would approve the sale of the closed Revel Casino Hotel in Atlantic City to developer Glenn Straub for $82 million. The long-contested sale - for slightly more than 3 percent of the property's $2.5 billion construction cost - is expected to close on the contract deadline of Tuesday, though many hurdles remain. Straub said in court testimony that after the closing, he would reveal his $500 million master plan for Atlantic City, encompassing Revel and other projects.
NEWS
April 3, 2015 | BY VINNY VELLA, Daily News Staff Writer vellav@phillynews.com, 215-854-2513
A PISTOL PACKIN' mama from South Philly is free and clear for the first time in nearly two years. New Jersey Gov. Chris Christie yesterday pardoned Shaneen Allen, 27, a single mother of two who gained national attention after she was hit with an unlawful-weapon charge for a gun she legally owns during a 2013 car stop in Hamilton Township, Mercer County. "She fought a hard fight, but she stood her ground," Evan Nappen, a gun-rights lawyer who represents Allen, said yesterday. "If anyone is deserving of a pardon from the governor, it's Shaneen.
NEWS
April 3, 2015 | BY CHUCK DARROW, Daily News Staff Writer darrowc@phillynews.com, 215-313-3134
PREDICTING THE project will be "the greatest success of my career," Philly-based uber-developer Bart Blatstein didn't just unveil his plans for the long-beleaguered Pier Shops at Caesars shopping mall yesterday, he put his professional reputation on the line. "I've never failed in my career, I've never not picked an area that was going to turn around," Blatstein told an audience filled with political and business leaders at a lavish event held at the four-story complex that juts out over the Atlantic Ocean from the Boardwalk opposite Caesars Atlantic City casino-hotel.
SPORTS
April 2, 2015 | By Dwayne C. Nelson, Inquirer Staff Writer
This one wasn't easy for the Moorestown girls' lacrosse team. The Quakers, ranked second in the country in the Nike/Lacrosse Magazine poll, earned an 8-6 nonleague victory Tuesday at Rumson-Fair Haven to extend their winning streak to 81 games. Adriana Pendino scored three goals and Alex O'Donnell added two while Jess Goralski had five saves for the Quakers, who improved to 4-0. Rumson-Fair Haven, the Group 2 runner-up last season, was led by Brittany Bruno (three goals) and Maggie Jennings (two.)
BUSINESS
April 2, 2015 | By Harold Brubaker, Inquirer Staff Writer
The Christie administration extended the term of a $40 million loan to Atlantic City that was due Tuesday, a move that was expected because the city's highly-publicized financial woes have locked it out of the capital markets. Atlantic City now has until the end of June to repay the money borrowed in December to help the city pay its bills following a steep decline in property-tax revenues caused by casinos' successful appeals for lower assessments. Kevin Lavin, Atlantic City's emergency manager appointed by Gov. Chistie in January, said last week that by June he expected to have detailed proposals on how to close Atlantic City's projected $101 million budget gap for this year.
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