Judge: More time needed to seek higher Revel bids

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

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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