Atlantic City waterpark deal hanging by a thread after complications arise
by Tom Anstey | 10 Feb 2015
The casino originally cost US$2.4bn
Plans to build a mega resort centred around a giant waterpark on the site of a former US$2.4bn (€2bn, £1.6bn) casino have hit a major stumbling block after the lawyer representing the buyer of the bankrupt Revel Casino in Atlantic City said his client would miss a midnight 16 February deadline to complete the purchase.
Florida-based real-estate developer Glenn Straub wanted to buy the Revel Casino for US$94.5m (€81.5m, £62.3m), after a US Bankruptcy Court judge approved the sale. As part of that sale, Straub was looking for no obligation to existing leases held by the bars, clubs and restaurants that operated inside the hotel, according to court papers.
But under a stay of the sale issued by district judge Jerome Simandle, it is not clear if those businesses are included in the purchase price from Straub.
“We're not closing by midnight tonight. That I can guarantee," said Stuart Moskovitz, Straub's attorney.
Michael Viscount, a representative for Revel told reporters at a court hearing that there were “no contingencies” for the sale going forward and that the casino needed to “come up with Plan C really quickly.”
If the waterpark plans go through, the attraction will combine family-friendly amenities with some small adult gambling areas in the form of the rebranded Revel. The waterpark will be built at a cost of US$108m (€93.1m, £71.2m) and will be both inside and out to create a year-round prospect.
Plans to build a mega resort centred around a giant waterpark on the site of a former US$2.4bn (€2bn, £1.6bn) casino have hit a major stumbling block after the lawyer representing the buyer of the bankrupt Revel Casino in Atlantic City said his client would miss a midnight 16 February deadline to complete the purchase. Florida-based real-estate developer Glenn Straub wanted to buy the Revel Casino for US$94.5m (€81.5m, £62.3m),
TAW,VAT
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by Magali Robathan | 02 Feb 2024
Wake the Tiger, the Bristol-based immersive art experience, is set to open its 1,000sq m expansion on Friday 2 February. Dubbed ‘the world’s first amazement park’ Wake The Tiger was created by the team behind Boomtown music festival. It launched in a former warehouse in Bristol, UK in July 2022, featuring 27 different spaces, including ice chambers, secret passageways, underwater worlds, mechanical chambers and psychedelic forests. Since its launch, it
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by Megan Whitby | 02 Feb 2024
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by Megan Whitby | 19 Jan 2024
Kerzner International has officially opened the doors to its striking new vertical resort, One&Only One Za’abeel, in Dubai. The opening marks the launch of the first-ever urban One&Only outpost. Located in the One Za’abeel development designed by architects Nikken Sekkei, the destination boasts dual skyscrapers intersected by the world’s longest cantilever bridge, The Link, which is suspended 100 metres above street level. “We have set aside convention and reinvented what
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by Kath Hudson | 18 Jan 2024
Luxury spa hotel Calcot Manor, located in England's Cotswolds, is launching a purpose-built fitness and wellness sanctuary. Opening in February, The Grain Store will have indoor and outdoor gyms, a spin shed, holistic studio, exercise studio and café with a terrace giving sweeping views over the countryside. The gym will have a functional space, cardio zone, free weights, resistance and a place to fight postural issues: the Proverb assisted stretch
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by Liz Terry | 11 Jan 2024
Huafa Snow World, a 131-hectare sport and entertainment destination in Shenzhen, China, designed by architecture firm, 10 Design is slated to open in 2025. The development is anchored by a 80,000sq m indoor ski resort, currently expected to be the largest of its kind in the world when it opens. Huafa Snow World will have a balance of retail, entertainment, commercial, hospitality, civic and cultural elements with the aim of
Murrayshall Country Estate awarded planning permission for multi-million-pound spa and leisure centre
by Megan Whitby | 05 Jan 2024
Rural Scottish retreat Murrayshall Country Estate has received the green light for its £30 million (US$38 million, €34.8 million) masterplan. The proposal includes plans for an extension to the 40-key four-star hotel in Scone, Perthshire, as well as the addition of a new spa and leisure facility with treatment rooms, a spa pool, spa cafe, gym and studio, a leisure pool and outdoor spa terrace. Proposed updates also include a
Aman's Janu hotel by Pelli Clarke & Partners will have 4,000sq m of wellness space
by Kath Hudson | 04 Jan 2024
Janu, the new hotel brand from luxury operator Aman, is gearing up to launch its first location this March in Tokyo. The property will feature one of the city's largest gyms. Part of a 4,000sq m state-of-the-art wellness centre, the 340sq m gym will feature five group exercise studios for spinning, aerial yoga, golf simulation, functional training, Pilates and high-impact circuit training, as well as the first boxing ring in
Therme Group confirms Incheon Golden Harbor location for South Korean wellbeing resort
by Megan Whitby | 03 Jan 2024
Global wellbeing organisation Therme Group has announced the location of its first Asia Pacific project. The upcoming resort will open in South Korea’s Incheon City as part of its Golden Harbor development. A memorandum of agreement was signed on 20 December by Therme’s senior vice president Stelian Iacob and Incheon Free Economic Zone (IFEZ) commissioner Kim Jinyong. The identification of the Golden Harbor site follows an initial letter of cooperation
Universal Studios eyes the UK for first European resort
by Kath Hudson | 29 Dec 2023
Universal Studios is assessing the feasibility of opening its first European resort in the UK, following the purchase of a former brickworks in Bedfordshire. The theme park operator has confirmed it’s in the “very early stages of exploring the possibility of a potential park and resort experience in Bedford.” Parent company, Comcast Corporation has purchased the 480-acre site, which previously had planning permission for 1,000 homes. Universal Destinations and Experiences
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The King of Bhutan has announced plans for a new economic hub immersed in nature and designed by architecture firms Bjarke Ingels Group (BIG), Arup, and Cistri. Referred to as the Mindfulness City, the masterplan for the future Gelephu Special Administration Region (SAR) is informed by Bhutanese culture and its strong spiritual heritage, as well as the country's Gross National Happiness (GNH)* index. The goal is for the SAR to
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by Kath Hudson | 19 Dec 2023
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by Kath Hudson | 18 Dec 2023
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