ATLANTIC CITY, NJ—A sale of the shuttered $2.4-billion Revel casino hotel failed to materialize on Wednesday.
An auction of the property was held at a New York City law office, but was adjourned until next Tuesday, according to Revel spokeswoman Lisa Johnson.
In addition to Florida developer Glenn Straub's $90-million cash bid for Revel, two other prospective bidders have submitted bids, according to a Reuters report. It is not known how many bidders have qualified for the auction.
Straub has said he wants to create a university at the Revel complex for geniuses to tackle global issues such as hunger and nuclear waste storage. See story at Reuters.com.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
