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Bankrupt Atlantic City Casino to Be Auctioned Off

Atlantic City's bankrupt Revel Casino Hotel is going on the auction block just two years after it originally opened its doors.

The casino is being auctioned after New Jersey judge Gloria Burns ruled that bids are to be accepted after Florida businessman Glenn Straub could not settle with creditors. As a result, bids are being accepted until September 23rd and if Straub's bid is not accepted he will be paid a $3 million parting fee by Revel's liquidators.

Reportedly one other party has contacted the bankruptcy court in an attempt to voice their intention to place a bid.

The Revel Casino Hotel was opened in 2012 and closed a year later after the casino went under, due in large part to the huge $2.4 billion it took for it to be built.

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