Glen Straub is hanging tough with the building formerly known as The Revel Casino Hotel. Power shut downs, fines, threats, bad press….. the man is taking multiple body blows….but the Florida developer just won’t fall to the canvas.
The developer was seen last Saturday at the Madonna show at Boardwalk Hall. He’s quite the popular guy with us regular folk.
Straub caught many by surprise when he stepped up and took control of this amazing property using the change he found behind the cushions of his sofa. He grabbed the 2 billion REVEL for $82 mil back in APRIL… Days later, the power company in his backyard, ACR energy partners turned off the power to the REVEL. He didn’t want to pay the inflated rates that ACR was charging him. As you may remember…ACR is alleged to be on the verge of financial collapse.
Is Straub playing a game of chicken with ACR? Maybe.
Last week, Straub made the news again…. And said that the 9 union engineers watching over the building….were overpaid. He’s bringing in outside contractors to man the command center.
What will Glen Straub do with that property? Lots of speculating out there…..but we know. He’d gonna make money with his investment.
How’s Straub gonna do that? Only Straub knows. He ponied up the 83 mil. He gets keep that secret to himself.