The back-up bidder for Revel AC Inc., now having the right to buy the shuttered Atlantic City, N.J., 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 Inc. at an auction, Polo North said in a Dec. 24 court filing.
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