A Los Angeles developer involved in numerous projects there has made an 11th-hour bid to buy Atlantic City’s former Revel Casino Hotel, reports The Wall Street Journal.
Izek Shomof has submitted a letter of interest to Revel AC, offering to buy the casino for $80 million. He is reviving the former Rialto Theater in South Pasadena, as well as the former Sears building in downtown Los Angeles.
A bankruptcy court judge is to rule Wednesday on a proposed sale of Revel to Florida developer Glenn Straub for $82 million.
Shomof’s offer was first reported by The Philadelphia Inquirer. It was tucked away in a bankruptcy court filing made Monday night by business tenants of the former casino objecting to the proposed sale to Straub’s Polo North Country Club.