ATLANTIC CITY, N.J. (AP) - A bankruptcy court auction for
Revel, the failed luxury casino-hotel on the Atlantic City Boardwalk, is
scheduled to resume.
An auction that began last Wednesday was suspended due to
the approach of the Rosh Hashanah holiday. It will continue on Tuesday.
Revel has refused to reveal details of what has
transpired so far.
The former casino's management has received multiple bids
for the property. The lone bid made public thus far is $90 million from Florida
developer Glenn Straub, who envisions a gathering place for
"geniuses" tackling a number of problems, with or without a casino.
The casino cost $2.4 billion to build, and had been open
for just over two years before going out of business on Sept. 2.
Source: Philly.com
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