The Daily Docket: Revel Strikes New Deal With Glenn Straub

02/25/15
Paula Manago, of Cliffside Park, N.J., gathers shells along the ocean near the Revel Hotel Casino early Tuesday, Sept. 2, 2014, in Atlantic City, N.J. The casino section of the Revel closed at 6:30 a.m. Tuesday. Revel is shutting down a little over two years after opening with high hopes of revitalizing Atlantic City’s struggling gambling market. (AP Photo/Mel Evans) Published Credit: Associated Press
Associated Press

The Revel Casino Hotel has struck a new $82 million deal to sell the beleaguered Atlantic City. N.J., resort to Florida-based developer Glenn Straub. The Wall Street Journal has the Daily Bankruptcy Review article here.

(Daily Bankruptcy Review is a daily newsletter with comprehensive coverage and analysis of emerging and in-progress insolvencies and turnarounds. For a two-week trial, visit http://on.wsj.com/DJBankruptcyNews, scroll to the bottom and click “try for free.”)

The city of Stockton, Calif., will leave bankruptcy protection on Wednesday, bringing to close years of cost-cutting efforts that affected bondholders, taxpayers and its retired employees, DBR reports in WSJ.

Surgery-monitoring company ProNerve LLC filed for chapter 11 protection Tuesday with plans to sell itself to a competitor through a bankruptcy auction, DBR (sub. req.) reports.

Creditors say RadioShack Corp. spent its loan money in ways that were different form court orders, Bloomberg reports.

The Archdiocese of St. Paul and Minneapolis plans to sell some key property, the Star Tribune reports.

Spain’s government will offer tax relief to encourage hiring and help single-parent struggling families, WSJ reports.

Write to Melanie Cohen at [email protected]. Follow her on Twitter at @MelanieLisa

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