TRUSTEE OBJECTS TO REVEL AUCTION BID DATE

A trustee with the United States Bankruptcy Court has thrown a monkey wrench into the anticipated purchase of the Revel Casino by Florida investor Glenn Straub.  A trustee issued a statement late on Friday saying that a $3 million break up fee that would be owed to Straub if he was outbid for the Revel should not be part of the agreement of sale.  The trustee also believes that the September 23rd bid deadline is not reasonable for other potential bidders.  Straub has offered a bid of $90 million for the Revel, which cost $2.4 billion to construct.