New Potential Buyer Makes $80 Million Bid for Atlantic City’s Revel
Less than a week after developer Glen Straub reached a deal to purchase the shuttered Revel Casino Hotel in Atlantic City for $82 million, another potential buyer has made an offer on the bankrupt property. Los Angeles developer Isek Shomof and his partner, Leo Pustilnikov, offered the owners $80 million Monday, according to press reports. Shomof and Pustilnikov claim their offer is worth more than Straub’s when a $10 million deposit forfeited by Straub is factored in; they also are willing to allow the casino’s tenants, including a nightclub, to remain, which was a point of contention with Straub. The deal with Straub is set to close March 31.