- Associated Press - Wednesday, September 24, 2014

ATLANTIC CITY, N.J. (AP) - A bankruptcy court auction for Revel, the failed luxury casino-hotel on the Atlantic City Boardwalk, will resume on Tuesday.

An auction that began Wednesday morning was suspended in the afternoon due to the approach of the Rosh Hashanah holiday.

A Revel spokeswoman said no details of what transpired thus far would be released. 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.


Copyright © 2018 The Washington Times, LLC.

The Washington Times Comment Policy

The Washington Times welcomes your comments on Spot.im, our third-party provider. Please read our Comment Policy before commenting.

 

Click to Read More and View Comments

Click to Hide