Revel.jpg
This Tuesday Sept. 2, 2014, file photo, shows the Revel Hotel Casino early in the morning in Atlantic City, N.J. Attorneys for Revel Casino Hotel say that a Florida developer has offered $90 million for the Atlantic City property that closed this month. The casino said in a court filing Wednesday Sept. 10, 2014, that Glenn Straub has made the cash bid and it hopes to have an auction for the property on Sept. 24. (AP Photo/Mel Evans, File)
ATLANTIC CITY, N.J. -- An investor with deep pockets has big dreams for Atlantic City's shuttered Revel Casino Hotel.
Florida developer Glenn Straub has placed a $90 million bid on the closed entertainment site, adding he has plenty of plans for the resort, including a university he called "a tower of geniuses," writes the Press of Atlantic City.
Straub said he'd build a second tower at Revel that would stand 30-35 stories. In it would be a colony of "some of the smartest people in the world," living and working on pressing global problems, like nuclear waste disposal, the publication wrote Friday.
"The university's going to go in," Straub said by phone Thursday to the New Jersey-based media outlet. "It's going to be for geniuses."
The investor noted he wants a casino at the site, but the focus to getting people to the area won't solely be on gambling.
He also mentioned a high-speed ferry and rail systems and an "underground passageway" for tourists to comfortably traverse Atlantic City during winter, said the Press of Atlantic City.
At a bankruptcy hearing Monday, Revel attorneys said Straub's company, Polo North Country Club Inc., is the sole bona fide bidder on Revel. An auction is slated for Sept. 24 if another qualified bidder emerges, the report read.
Revel is one of four Atlantic City casinos to close this year. The $2.4 billion location opened two years ago but never earned a profit. It closed on Sept. 10.
What's your opinion of Straub's plans? Do you think they can become reality?