Four Bidders Seek to Buy Atlantic City's Closed Revel
At least four bids have been received for the Revel Casino Hotel in Atlantic City, which closed down last month, according to press reports. A bankruptcy court auction for the two-year-old resort was held Sept. 30. The only offer that has been made public in the secret talks has been a $90 million bid from Glenn Straub, a Florida developer. Other bidders are rumored to include a real estate investment trust and a foreign-based group that proposes to keep Revel operating as a casino.