ATLANTIC CITY, NJ—Revel AC Inc. the parentcompany of Revel Entertainment Group, LLC, the owner of thebankrupt and shuttered Revel Casino Hotel, reportsthat Brookfield US Holdings, LLC is thesuccessful bidder for substantially all of its assets at $110million.
The company in an announcement released this morning, states,“The company and its advisors determined that Brookfield's bid wasthe highest and best bid received during the company's auctionprocess.” Auction proceedings were held late last month and againyesterday.
Revel named Florida entrepreneur Glenn Straub'sPolo North Country Club Inc.'s $95.4-million bidas the backup bidder. Straub is due a $3-million fee if his bid isnot successful.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
