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What could happen at Revel casino sale hearing

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ATLANTIC CITY, N.J. (AP) – They’ll be back at it again in a Camden courtroom Thursday morning as a bankruptcy court judge considers – for the fourth time – a proposed sale of Atlantic City’s former Revel Casino Hotel.

Judge Gloria Burns is due to consider the proposed $82 million sale of the $2.4 billion casino to Florida developer Glenn Straub.

But that’s just one of several things she could do.

She could give Revel AC more time to court potential buyers. Two would-be purchasers have expressed interest recently: Los Angeles developer Izek Shomof, and New York private equity investor Jeffrey Keating.

Or she could scrap the whole process and appoint a trustee to liquidate Revel.

Revel closed in September after just over two years of operation during which it never turned a profit.


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