Satan who has been released from the abyss for a little season, is now cast into the lake of fire where he will spend all eternity. The abyss, which is equivalent to Hades, will be cast into the more permanent place of eternal torment.
There is no possibility of the repentance of the devil. Repentance is a gift of God and it will never be given to any demon. Christ has not taken the nature of fallen angels and given himself for their sins. No angel will ever be redeemed and therefore only those that did not fall are called elect angels. Their election kept them from joining Satan in his rebellion.