revel-casino-closed
A Florida developer on Tuesday closed on a deal to buy the former Revel Casino Hotel that was built for $2.4 billion for $82 million. In this September 2014 file photo, a security guard riding a bike along the Atlantic City boardwalk passes the resort.
(Aristide Economopoulos/The Star-Ledger)
The former Revel Casino Hotel that cost $2.4 billion to build has been sold for $82 million, according to an attorney for Florida real estate developer Glenn Straub.
"The deal is closed," attorney Craig Galle said on Tuesday.
The sale comes a day after a federal bankruptcy court judge officially approved the deal.
Straub's Polo North Country Club purchased the property, which closed last September after twice filing for bankruptcy. The resort first opened its doors in April 2012.
Galle said Straub is still working out the details about what he plans to do with the property.
Straub last week announced the acquisition of the casino was part of a larger plan dubbed the "Phoenix Project," which includes $500 million in investments in the Atlantic City area.
Erin O'Neill may be reached at eoneill@njadvancemedia.com. Follow her on Twitter @LedgerErin. Find NJ.com on Facebook.