The Revel Casino Hotel in Atlantic City disclosed on Wednesday evening that bidders have emerged for the property and postponed a bankruptcy auction that was scheduled for yesterday.
Revel has now rescheduled the auction for August 14. Revel has received bids but needs “additional time to fully analyse and evaluate the bids received and is not prepared to go forward with Thursday's auction,” the company said.
The casino hotel, which employs over 3,000 people, has said it could be closeded by the end of summer if it can’t find a buyer soon. An auction would occur if there are multiple credible offers for Revel, which is expected to net a fraction of the $2.4bn spent building it.
