The Florida-based developer bought the $2.4 billion Revel in bankruptcy court for just $82 million in 2015. The sale was for $200 million and confirms a report of AC Ocean Walk's interest in the purchase made public last month by Moody Investors Service, the news of which at the time prompted repeated denials from the property's mercurial owner Straub. If all goes according to schedule, the reopening will come shortly after the Hard Rock Hotel & Casino Atlantic City opens its doors on the site of the old Trump Taj Mahal in late May over the Memorial Day weekend.

The Press of Atlantic City reported on Tuesday that owner Glenn Straub has sold the property to the Colorado-based group AC Ocean Walk LLC who plan to reopen it this summer as Ocean Resort Casino. This week came another episode in the more than three-year-long saga of the Revel Casino Hotel in Atlantic City that closed in September 2014 just two-and-a-half years after its grand opening. Closed Revel Goes for $200M, To Reopen as Ocean Resort Casino This Summer Also included are reports on recent thefts at Las Vegas casinos, a lawsuit against Pennsylvania’s new expanded gambling law, and recent revenue numbers for Maryland casinos.

This week’s Inside Gaming starts with the announcement - finally! - of the sale of the closed Revel Casino in Atlantic City, with the new owners intending to reopen the property this summer.

Ocean resort casino bought by mgm