Losing Bidder to Fight Revel Auction Results

The investor behind the 'Tower of Geniuses' vision isn't going down without a fight.

As of last week, a winning bidder for the vacant Revel Casino had emerged.  Brookfield Asset Management, the same people that own Hard Rock Casino in Las Vegas, won the bid to the tune of 110 million dollars.

After weeks of being featured as the future owner of Revel by numerous media sources, Florida developer Glenn Straub appears to have lost the bid.  A judge will decide whether or not the Brookfield bid will be approved.

Straub, the original stalking horse, is guaranteed 3 million dollars in this deal.  He promises to litigate if he is not the successful bidder.