Video: New Site Plan for Former Revel Casino, Ten, ApprovedPosted:
ATLANTIC CITY, N.J. – Florida developer Glenn Straub, the owner of the former Revel Casino, took a big step in preparing the mega-resort to re-open.
On Monday, management of the casino announced it will reopen under the name "Ten," as well as the property being expected to open in the first quarter of the new year. And on Tuesday afternoon, the Casino Reinvestment Development Authority approved Ten's new site plan, bringing the new resort one step closer to getting the final clearance to reopen.
The $2.4 billion Revel resort was in operation for a little more than two years before it shut down and never having turned a profit. It was later sold at bankruptcy court for $82 million.