Revel auction adjourned until Tuesday

Bookmark and Share

Posted: Thursday, September 25, 2014, 3:01 AM



There are reportedly three bidders for the Revel casino at Wednesday's bankruptcy auction in New York, including Florida investor Glenn Straub who set the baseline for the auction with a $90 million offer.


Reuters, citing an unnamed person familiar with the auction process, said two last-minute bids came Tuesday, one from a party involved in casinos outside of New Jersey and a second from a real estate developer.


A representative of the Meruelo Group, which owns the Grand Sierra Resort and Casino, in Reno, Nev., was at a Sept. 15 Revel bankruptcy hearing, complaining that his company's bids were not considered 'qualified' in previous attempts to sell Revel in a bankruptcy auction.


It's not clear if the Meruelo Group, which has also tried to buy Trump Plaza and the Atlantic Club, remains among those trying to buy Revel.


215-854-4651


@InqBrubaker


{ 0 comments... Views All / Send Comment! }

Post a Comment

Powered by Blogger.