(Bloomberg) — Glenn Straub, the Florida developer who made a $90 million offer for the shuttered Revel Casino Hotel in Atlantic City, New Jersey, is considering buying the neighboring — and also closed — Showboat as well.

Caesars Entertainment Corp., the largest operator of U.S. casinos, shut Showboat in August to reduce capacity in the East Coast gambling hub amid a persistent decline in revenue.

Straub, 67, said he wants to acquire additional land in the city and promote non-gambling activities such as sports. As part of his plans for Revel, he said he’ll drop the name and look for a casino partner to run the gambling operations in the property.

“The building will not be a casino,” he said today in a phone interview. “It might have a casino in it. We don’t need gambling to support what we’re doing.”

Once a gambling mecca on the U.S. East Coast, Atlantic City saw its fortunes decline in recent years as betting options expanded in neighboring states. Five of the city’s 12 casinos have closed or said they may close this year.

Straub said he wants more land to realize a broader vision for turning the resort town into a destination for athletics, citing as possibilities women’s basketball and skateboarding. He said his model is the Palm Beach Polo and Country Club, a 2,200- acre resort in Wellington, Florida, which he owns and has expanded through corporate and international promotions.

‘Made Millions’

“Polo was a dying industry and we made millions of dollars off of high-end advertisers and sponsorships,” he said.

Straub said he approves of real estate sale covenants Caesars is seeking for Showboat that would prohibit gambling at that location.

Gary Thompson, a spokesman for Las Vegas-based Caesars, said the company hasn’t been contacted by Straub but would be happy to speak with him about a sale. Caesars is the largest operator in Atlantic City, with three casinos, even after closing Showboat on Aug. 31.

“We believe there’s an oversupply of gaming positions in Atlantic City and that adding non-gaming amenities and attractions are the keys to recovery,” Thompson said in an e- mail. “Our goal is to sell Showboat as a non-gaming property.”

Pay Cash

Straub said that he’ll pay cash for Revel if his bid is the winner in a Sept. 24 bankruptcy auction and that he hopes to renegotiate a power purchasing contract costing the resort $3 million a month, possibly through the intervention of the judge.

“It is premature for us to discuss the energy contract since Mr. Straub’s company does not yet own the facility,” said Dan Lockwood, a spokesman for South Jersey Industries Inc., which co-owns the power plant that supplies Revel.

Built at a cost of $2.4 billion, Revel was originally envisioned as resort first and a casino second. Struggling financially after its April 2012 opening, Revel introduced a “Gamblers Wanted” marketing campaign last year. With its parent company, Revel AC Inc., filing for bankruptcy court protection twice, the resort ceased operations on Sept. 2.

The bankruptcy is In re Revel AC Inc., 14-bk-22654, U.S. Bankruptcy Court, District of New Jersey (Camden).

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