Developer Plans Water Park For Former Site Of Revel Casino

ATLANTIC CITY, N.J. (CBSNewYork/AP) - A Florida developer buying Atlantic City's former Revel Casino out of bankruptcy plans to open a water park there.

Glenn Straub told reporters during a break in a court hearing Thursday he plans high-speed ferry service between the site and New York City.

Still unclear is whether Straub plans any gambling use at the site.

A judge entered a final order awarding Revel to Straub for $95.4 million, but he has threatened court action to halt that sale if a lower price cannot be approved.

It was not immediately clear whether he still plans to seek a stay of the sale. His lawyer did not immediately return a call seeking comment.

Revel closed Sept. 2 after little more than two years of operation, never having turned a profit.

The Showboat  and Trump Plaza have also shut their doors.

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