Revel Auction Winner Named, But Court Challenge Could Be Pending

The auction for the building that formerly housed the Revel Hotel and Casino is over, but the result may be challenged in court, The Press of Atlantic City reports.

Brookfield U.S. Holdings of Delaware won the auction with a $110 million bid Wednesday morning, and said it intends to reopen the building as a casino, according to the report.

However, Glenn Straub, who was the first, and for a time only, bidder, has complained about the lack of transparency in the process since the beginning. He intends to challenge the result in court, according to the report.

The auction began last Thursday.

On Thursday, Straub complained about the delayed start time and lack of transparency. He said there was no way to know how many people were bidding, and nj.com reported as many as four groups were bidding for the property as of Tuesday.

Straub put in a $90 million bid and said he intended to reopen the building in part as a casino, and in part as an an elite university, in the building’s tower.

He also said he could reopen the building within weeks if he won.

Revel closed at the beginning of September, and about 3,100 people lost their jobs as a result of that closing.

For more, visit pressofatlanticcity.com.