By Matt Rooney | The Save Jersey Blog
You can’t have a bankruptcy auction without qualified bidders, Save Jerseyans.
Not good…
Sources confirm exclusively to Hurley that there are no qualified bidders for Revel Casino. Board will meet today. Revel may have to close.
— Harry Hurley (@HarryHurley) August 11, 2014
Lawyers for the casino had only recently sought a one week extension in order to review new bids, but even the promise of reduced price (and the inevitably of fat state tax abatements) doesn’t seem capable of luring big buyers back to ailing A.C.
Click here to follow along via our extensive Atlantic City blog archives. We’ll let you know if there’s an update.
I don’t buy it. Just more unfounded rumors.
Doesn’t look unfounded, unfortunately: http://www.philly.com/philly/business/Atlantic_Citys_Revel_Casino_to_close_in_September.html