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ATLANTIC CITY, N.J. (Associated Press) — Atlantic City's former Revel casino resort plans to reopen next year under the name Ten.
The $2.4 billion resort lasted a little over two years before shutting down, never having turned a profit.
Florida developer Glenn Straub bought it out of bankruptcy court for $82 million, or about 5 cents on the dollar.
He's hired Revel's former chief financial officer Alan Greenstein to fill the same role in the reopened Ten.
On Tuesday afternoon, the project is seeking a key approval from the Casino Reinvestment Development Authority that could move it closer to getting final clearance to reopen. It needs approval of new traffic patterns from the agency, as well as a city certificate of occupancy.
Straub plans to open Ten in the first quarter of 2017.
