ATLANTIC CITY, N.J. (AP) — An appeals court has rejected the claim by Revel casino owner Glenn Straub that he should be able to buy the former Showboat casino in Atlantic City.
Straub, who is battling with New Jersey regulators over when and how the former Revel, now Ten, should reopen, had sued Stockton University over his failed attempt to buy the Showboat.
Stockton bought the shuttered casino from Caesars Entertainment, hoping to establish a long-sought urban campus in Atlantic City.
But it could not resolve complicated and conflicting legal claims on how the property could be used.
Stockton then sold the property to Straub for $26 million, but later terminated the deal after determining Straub was not serious about buying it. The appeals court upheld the lower court ruling that the college acted properly.
Philadelphia developer Bart Blatstein then bought the Showboat and opened it as a non-gambling hotel.