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Auction for Bankrupt Revel Casino to Resume Next Tuesday

A bankruptcy court auction for Revel, the failed luxury casino-hotel on the Atlantic City Boardwalk, will resume next 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 AP - Associated Press
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