Revel AC Inc., the bankrupt Atlantic City, New Jersey, casino operator, postponed an asset auction indefinitely, the day after announcing it will close its doors by next month, Bloomberg News reported yesterday. The casino company said in court filings yesterday that it’s still reviewing bids and working on a “value-maximizing” sale. The company said yesterday that the resort will be shuttered no later than Sept. 10 because none of the offers met certain requirements. Revel delayed the auction, set to take place today after already being pushed back one week, to a date to be determined so it can work with potential buyers toward “the goal of naming a successful bidder,” according to court documents. Revel’s casino revenue plunged about 36 percent in July compared with the previous year, according to a report issued today by the New Jersey Division of Gaming Enforcement. Casino revenue in the New Jersey gambling mecca fell more than 40 percent to about $2.8 billion in 2013 from a peak of more than $5 billion in 2006.
