It will be another few days before a judge decides whether yet another deal to sell Atlantic City’s former Revel Casino Hotel is dead.
A federal bankruptcy judge on Tuesday heard arguments on whether Revel AC should be allowed to terminate a deal to sell the shuttered casino to a Florida developer for $95.4 million now that the deadline to complete the sale had passed.
Glenn Straub’s Polo North Country Club was the runner-up bidder in a bankruptcy court auction last fall for the $2.4 billion casino resort, which closed Sept. 2. Straub said he was unable to meet the Feb. 9 deadline without knowing whether he’ll be required to honor leases from business tenants at the casino.
Judge Gloria Burns says she’ll likely rule by Thursday.