By David Madden
CAMDEN, N.J. (CBS) — A federal bankruptcy judge in Camden today denied a bid by a Florida developer for more time to close on the $95-million purchase of the former Revel hotel-casino, in Atlantic City.READ MORE: Car Crash In North Philadelphia Leaves Man Dead, Police Say
Revel lawyers have what they call “zero confidence” that Straub will commit to the deal anytime in the near future. And while Judge Gloria Burns seemed to agree, she stopped short of terminating the agreement, deciding only to deny his bid for more time.READ MORE: Residents Escape Flames In Levittown, Bucks County House Fire
Burns says she will decide next week on termination and whether Straub will forfeit his $10-million on the property.
“They’re trying to pressure people into doing things, and I’m not sure you can pressure a company like ours,” Straub said today. “We’re debt free. We’ve been this way for 52 years, and we’re going to go ahead and do what’s right.”MORE NEWS: Temple University Students Gather To Honor Students Killed, Call For Safety Changes
If the Revel sales agreement is canceled, Straub could still participate in the third round of bidding. The current owners say no other buyers have been lined up.