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FILE - In this Monday, Sept. 1, 2014 file photograph, the closing Revel Casino Hotel, right, is seen next to the already closed Showboat Casino Hotel in Atlantic City, N.J. When the $2.4 billion Revel Casino Hotel on the Atlantic City Boardwalk, closed, i

The now-shuttered Revel Casino Hotel is pictured in this file photo. (Mel Evans/AP )

ATLANTIC CITY — It will be another few days before a judge decides whether yet another deal to sell Atlantic City's former Revel Casino Hotel is dead.

A federal bankruptcy judge heard arguments Tuesday on whether Revel AC should be allowed to terminate a deal to sell the shuttered casino to a Florida developer for $95.4 million now that the deadline to complete the sale had passed.

Glenn Straub's Polo North Country Club was the runner-up bidder in a bankruptcy court auction last fall for the $2.4 billion casino resort, which closed Sept. 2, after just over two years of operation. But when a Canadian firm's $110 million deal for the casino fell through, Straub was left as the only remaining buyer.

Straub said he was unable to meet the Feb. 9 deadline because of the pending issue of whether he'll be required to honor leases from business tenants at the casino.

Judge Gloria Burns said she'll likely rule by Thursday.

The Press of Atlantic City reported that Shaun Martin, Revel's chief restructuring officer, told the court there are no new buyers waiting in the wings to purchase Revel. He said liquidation of the property is a possibility but not what Revel AC wants to do with it.

In a court filing leading up to Tuesday's hearing, Stuart Moskovitz, Straub's attorney, said Revel AC had claimed to have "many" potential buyers for the property.

Representatives of both sides said talks aimed at salvaging the deal continued up until shortly before the hearing, but did not result in an agreement.

Revel is one of four Atlantic City casinos to go out of business in 2014 as the seaside gambling resort continues to suffer from increasing competition from casinos in neighboring states.