Filing in Revel bankruptcy offers no word about bids

Rolling Chair operator Jean Desir of Pleasantville waits for fares on a nearly deserted boardwalk at 3 p.m. in front of the Revel in Atlantic City June 26, 2014. The Revel was heralded as the city's second wind -- and its future when it opened in early April 2013. But with online gaming a bust and the U.S. Supreme Court denying New Jerseys attempt to have sports-betting earlier this week, the outlook for Atlantic City just went from negative to downright grim. ( TOM GRALISH / Staff Photographer )
Rolling Chair operator Jean Desir of Pleasantville waits for fares on a nearly deserted boardwalk at 3 p.m. in front of the Revel in Atlantic City June 26, 2014. The Revel was heralded as the city's second wind -- and its future when it opened in early April 2013. But with online gaming a bust and the U.S. Supreme Court denying New Jerseys attempt to have sports-betting earlier this week, the outlook for Atlantic City just went from negative to downright grim. ( TOM GRALISH / Staff Photographer )
Posted: August 07, 2014

There has been no word so far this week on bids for the bankrupt Revel casino, which were due Monday in preparation for an auction Thursday if more than one qualified bid was received.

But a U.S. Bankruptcy Court filing Tuesday in Camden by the investment bank Moelis & Co. L.L.C., charged with finding a buyer for Revel, revealed some details.

In the filing, Moelis said it was owed $150,000 in fees, plus $5,950 in expenses, for its work on the sale of Revel, which it calls "Project Redwood."

Moelis said it contacted more than 130 potential buyers for Revel, which cost $2.4 billion to build and is expected to sell for less than $300 million.

On 13 days between June 24 and July 31, Moelis conducted on-site property tours, according to the filing. It is not clear whether that means 13 potential buyers were on those tours.

The closed-door auction in the New York City offices of law firm White & Case L.L.P. is scheduled to start at 9 a.m.


hbrubaker@phillynews.com

215-854-4651 @InqBrubaker

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