ATLANTIC CITY, N.J. –  The losing bidder in a bankruptcy court auction for Atlantic City's former Revel Casino Hotel isn't read to fold just yet.

Revel's management chose Toronto-based Brookfield Asset Management as the winner with a $110 million bid.

But Florida developer Glenn Straub says the auction was rife with improprieties, and will challenge the result at Tuesday's hearing in Camden.

His lawyer says Straub is considering whether to make an offer exceeding $110 million at the hearing, which the lawyer says the judge has the power to accept.

Revel was Atlantic City's newest casino before closing Sept. 2 after just over two years of operation.

The casino hotel cost $2.4 billion to build; the $110 million winning bid represents a 95 percent discount on that price.