Judge: More time needed to seek higher Revel bids

The former Revel Atlantic City Hotel Casino. (File

The former Revel Atlantic City Hotel Casino. (File Photo)

CAMDEN - (AP) - A bankruptcy court judge says more time is needed to seek higher bids for Atlantic City's former Revel Casino Hotel.

Judge Gloria Burns delayed a decision Wednesday on the proposed $82 million sale of the shuttered gambling hall to Florida developer Glenn Straub.

She did so after Los Angeles developer Izek Shomof expressed interest in buying Revel, but for $2 million less.

Leo Pustilnikov, Shomof's partner, says he's interested in making a formal bid soon.

Burns says she's giving Revel AC and potential bidders time to work out the best possible deal for the shuttered casino.

A new hearing is set for March 12.

Two previous sales of Revel have fallen through.

The $2.4 billion casino closed in September after two years of operation, and never turned a profit.

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