Can The Revel Deal Be Saved?
By Casinomeister, Last updated Nov 28, 2014
Conflicting reports indicate a rescue attempt may be underway
There have been conflicting reports in US media regarding the announcement by Brookfield Asset Management that it has been unable to satisfactorily resolve an energy debt problem over the Revel in Atlantic City and is reversing out of the $110 million acquisition agreement for the property (see previous InfoPowa reports).
Brookfield itself has not commented beyond its announcement, but legal representatives for Revel claim that vigorous efforts, including a meeting next week, are in progress to save the deal.
Further muddying the water is a claim by another interested buyer, Florida developer Glenn Straub, that Brookfield's decision to walk away from the deal is not cast in stone and is merely a negotiating tactic which the media have been duped into supporting.
As it is unlikely that Brookfield would have taken a competing rival (Straub is still interested in Revel and has appealed against the successful Brookfield bid) into its confidence, the likelihood is that Straub's claim is at best speculative.
Online Casino News Courtesy of Infopowa
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The man with the plan here at Casinomeister. Bryan Bailey has been running Casinomeister since its launch in June of 1998. He has watched the industry grow from its primeval stage to what it is now. The Meister has attended nearly 100 conferences in the past 20 years and has either been a speaker or a panel moderator for at least 60 events. He has always been an advocate of fairness and reason and is known to like German beer, a good Scotch, and astrophotography.
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