Daily News: December 29, 2014

Revel Backup Buyer Requests Purchase Price Cut

According to a recent Bloomberg report, the back-up bidder for Revel AC, now having the right to buy the shuttered Atlantic City casino, wants the bankruptcy judge to cut the $95.4 million purchase price by $8.4 million in view of alleged improprieties in the auction process.

The purchase price for the casino’s assets should be $87 million, not the $95.4 million offered by Glenn Straub’s Polo North Country Club at an auction, Polo North said in a Dec. 24 court filing, Bloomberg reported.

To read the full Bloomberg report, click here.