Los Angeles developer makes 11th-hour offer to buy Revel Casino Hotel in Atlantic City

Industries Associated Press

A Los Angeles developer involved in numerous downtown projects there has made an 11th-hour bid to buy Atlantic City's former Revel Casino Hotel.

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Izek Shomov has submitted a letter of interest to Revel AC offering to buy the casino for $80 million.

A bankruptcy court judge is due to rule Wednesday on a proposed sale of Revel to Florida developer Glenn Straub for $82 million.

Shomov's offer was first reported by The Philadelphia Inquirer.

His partner told the newspaper he supports letting business tenants at Revel continue to operate in a re-opened casino.

Their opposition has been a key obstacle to two previous sales that fell through.

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Revel, which cost $2.4 billion to build, closed in September after little more than two years of operation.