Glenn Straub – the Florida developer who acquired the
vacant Revel Casino Hotel – isn't finished his fight to prevent the nearby
Showboat from reopening as a casino.
Straub's company, which is appealing the sale of the
former Showboat to Philadelphia developer Bart Blatstein, filed a brief Monday
claiming the casino's previous owner, Stockton University, failed to keep up
its end of a contract that said the college would work to remove a deed
restriction that dictates the future use of the Showboat, according to the
Press of Atlantic City.
Last year
Straub said he’d buy the building if Stockton made a credible effort to remove
the covenant. But in January Stockton sold Showboat for $23 million to
developer Bart Blatstein’s company, which did not publicly object to the
anti-casino provision.
“They didn’t
act in good faith and therefore they should not have been permitted to sell the
property to somebody else,” Straub’s attorney, Stuart Moskovitz, said Monday.
The Press of AC said a trial judge previously ruled for
Stockton on the issue, although an appeal could result in a different outcome.
Source: Philadelphia
Business Journal
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