A long day of counter bids in the auction for Atlantic City's bankrupt Revel Casino continued into the early morning hours of Wednesday, with a  $110 million offer made at midnight.

The offer from Brookfield Asset Management, a Canadian Company affiliated with the ownership of the Las Vegas Hard Rock Hotel and Casino and Paradise Island Bahamas, was said to be good only until 6am Wednesday.

It is unclear if the $110 million offer has been rescinded now that the deadline has passed.

The auction, held at the New York City offices of Revel's bankruptcy lawyers, saw a series of counter- offers between the two competing bidders, Brookfield Asset Management and Florida millionaire Glenn Straub.

Straub, who put in the initial $90 million stalking horse bid, had sought to counter an earlier offer from the Brookfield group, but was unable to contact his accountants after business hours, according to Press of Atlantic City.

An attorney for Straub complained that the competing late hour offer was an "extortionate bid" and said there was no question that the bidding process would end up in court.

 

 

More From Lite 96.9 WFPG