Earlier this week, a judge approved Brookfield Property Partners’ $110 million bid to buy bankrupt Atlantic City casino Revel (AKA the biggest mistake Morgan Stanley ever made). One person with whom this outcome didn’t sit right? Glenn Straub, who had previously made a $90 million offer for the place. How’d he express his disappointment? Not […]
Revel, the Atlantic City Casino Morgan Stanley poured $1.2 billion into and then booked a $1 billion loss on when the bank washed its hands of the place, which still haunts some senior executives’ dreams and is the word James Gorman whispers to employees with a knowing glance when it looks like they’re about to […]
Given everything else that’s gone wrong with Atlantic City’s flashy, unpopular new gambling paradise—and everything else that’s gone wrong in New Jersey recently—why shouldn’t a hedge fund that invests some of the Garden State’s pension cash own a casino?