Business

Showdown expected at Revel sale hearing

By Wayne Parry
Published October 5, 2014 6:48pm ET
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Showdown expected at Revel sale hearing
FILE - In this Sept. 1, 2014, file photo, Randy Chapman, left, of California, and John Krisel, of New York, walk on The Boardwalk of the closing Revel Casino Hotel in Atlantic City, N.J. On Oct. 1, 2014, Revel's management chose Brookfield Asset Management as the winner in a bankruptcy court auction for Atlantic City's former Revel Casino Hotel with a $110 million bid. But Florida developer Glenn Straub says the auction was rife with improprieties, and will challenge the result at a hearing Tuesday, Oct. 7, 2014, in Camden, N.J. (AP Photo/Mel Evans, File) | Mel Evans

ATLANTIC CITY, N.J. (AP) — The losing bidder in a bankruptcy court auction for Atlantic City’s former Revel Casino Hotel isn’t read to fold just yet.

Revel’s management chose Brookfield Asset Management as the winner with a $110 million bid last week. But Florida developer Glenn Straub says the auction was rife with improprieties, and will challenge the result at Tuesday’s hearing in Camden.

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