Skip to content
Subscriber Only

Revel Backup Buyer Wants Price Cut $8.4 Million: Bankruptcy

Updated on

(Bloomberg) -- The back-up bidder for Revel AC Inc., now having the right to buy the shuttered Atlantic City, New Jersey, casino, wants the bankruptcy judge to cut the $95.4 million purchase price by $8.4 million in view of alleged improprieties in the auction process.

The purchase price for the casino’s assets should be $87 million, not the $95.4 million offered by Glenn Straub’s Polo North Country Club Inc. at an auction, Polo North said in a Dec. 24 court filing.