{"id":8015,"date":"2014-09-15T15:36:56","date_gmt":"2014-09-15T15:36:56","guid":{"rendered":"https:\/\/forumarchives.tmsites.net\/index.php\/2014\/09\/15\/revel-trustee-objects-to-parts-of-proposed-revel-casino-hotel-deal\/"},"modified":"2014-09-15T15:36:56","modified_gmt":"2014-09-15T15:36:56","slug":"revel-trustee-objects-to-parts-of-proposed-revel-casino-hotel-deal","status":"publish","type":"post","link":"https:\/\/forumarchives.tmsites.net\/index.php\/2014\/09\/15\/revel-trustee-objects-to-parts-of-proposed-revel-casino-hotel-deal\/","title":{"rendered":"Revel Trustee Objects To Parts Of Proposed Revel Casino Hotel Deal"},"content":{"rendered":"<p><!-- Original Post Content --><br \/>\nATLANTIC CITY, N.J. (CBSNewYork\/AP) \u2013 A U.S. Bankruptcy Court trustee is objecting to the proposed auction date for the Revel Casino Hotel and a $3 million breakup fee that would go to a Florida developer if he\u2019s outbid for the recently shuttered site.<br \/>\n\tThe Press of Atlantic City reports that trustee Roberta DeAngelis stated her opposition in a 12-page court document filed late Friday.<br \/>\n\tDeAngelis said the breakup fee isn\u2019t appropriate in the situation Revel Entertainment faces. She also says the Sept. 23 bid deadline sought by the former casino owners doesn\u2019t provide sufficient time for parties to submit bids.<br \/>\n\tGlenn Straub has offered $90 million cash for the property, and he would get the breakup fee if another bidder comes in at least $1 million higher than his offer.<br \/>\n\tRevel closed in September, along with Showboat and Trump Plaza.<br \/>\n\tAtlantic City started the year with 12 casinos. By mid-September it will have eight, and 8,000 workers will have lost their jobs.<br \/>\n\tThe city\u2019s woes were brought on by ever-increasing competition from casinos in nearby states in the saturated Northeast gambling market.<\/p>\n<hr>\n<h3>Replies:<\/h3>\n<p>No replies were posted for this topic.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>ATLANTIC CITY, N.J. (CBSNewYork\/AP) \u2013 A U.S. Bankruptcy Court trustee is objecting to the proposed auction date for the Revel Casino Hotel and a $3 million breakup fee that would go to a Florida developer if he\u2019s outbid for the&#8230;<\/p>\n","protected":false},"author":36,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[],"class_list":["post-8015","post","type-post","status-publish","format-standard","hentry","category-latest-casino-news"],"_links":{"self":[{"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/posts\/8015","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/users\/36"}],"replies":[{"embeddable":true,"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/comments?post=8015"}],"version-history":[{"count":0,"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/posts\/8015\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/media?parent=8015"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/categories?post=8015"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/tags?post=8015"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}