The bankrupt Revel casino hotel in Atlantic City will go to auction on Sept. 24, a judge ruled yesterday, after the only bidder clashed with creditors who wanted to slow the rushed sale, Reuters reported yesterday. Bankruptcy Judge Gloria Burns also set Sept. 23 as the deadline for competing bids to top the $90 million offered by Florida developer Glenn Straub and his Polo North Country Club Inc. Revel cost $2.4 billion to construct. Revel also got approval to pay Straub a $3 million break-up fee if his is not the winning bid at the auction. The auction was set for two weeks after Straub's proposal was made public, and creditors complained that potential buyers needed more time to put together competing bids. The hearing was marked by threats of litigation if the auction was postponed, complaints that Straub was being secretive about his plans for the massive complex and the appearance of a potential competing bidder.
