Revel Casino when it was first built years ago was designed for a number of purposes, one of the main appeals for this casino was that three of its floors were designed directly for roulette. Each floor would change the amount of wagers that could be placed on the roulette wheel, the higher the floor the higher the wager. Unfortunately it seems that Glenn Straub, the new owner of this casino was unaware of certain plans in the casinos design when he purchased Revel Casino. One of those plans in this casinos floor plan was the three roulette floors, this has urged Mr. Straub to demand a discount on the original amount that he paid for this casino.
Glenn Straub paid $95.4 Million for this casino, far less than the actual amount that was paid to build this casino years ago. Mr. Straub is demanding a discount due to flaws in the design he was unaware of and due to the fact that he will have to do a complete overhaul of the indoor design of this casino in order to appeal to gamblers. Unfortunately it seems that Mr. Straub won’t be getting the deal he was hoping for as the Bankruptcy Judge on this case, Gloria Burns has stated that he will receive a $3 Million deduction due to the breakup fee but will still have to pay $92.4 Million in order to own this property.
It seems that Glenn is willing to comply on this agreement as $3 Million is a better deal than anything as to many people $3 Million if a lifetime’s worth of money.