The Revel Casino Hotel in Atlantic City, N.J., asked a bankruptcy judge to end its agreement to sell the gambling complex to Florida developer Glenn Straub for $95.4 million, Reuters reported yesterday. The hotel's legal team also asked Judge Gloria Burns for permission to keep Straub's $10 million deposit. The sale to Straub became embroiled in disputes with owners of the casino's $160 million power plant, and with a group of restaurants and nightclubs that once operated in the casino, which closed in September. The restaurants feared that they could lose millions in construction costs if the sale to Straub proceeded and they were stripped of their leases. But under a stay of the sale issued by U.S. District Judge Jerome Simandle, it remained unclear if those businesses were included in the $95.4 million purchase price from Straub. The Revel asked Judge Burns to hold a hearing today to consider its requests.
