Popular News From Popular Sites: Brookfield wins auction for bankrupt Revel Casino: sources

Wednesday, October 1, 2014

Brookfield wins auction for bankrupt Revel Casino: sources

A man reads a sign at the Revel Casino Hotel in Atlantic City notifying the public about its closure (Reuters) - Brookfield Asset Management BAMa.TO BAM.N won the auction for Atlantic City's bankrupt Revel Casino Hotel with a $110 million bid, said two sources familiar with the situation. The company outbid Florida real estate developer Glenn Straub, who did not submit a superior bid by 5:00 a.m. ET, one source said. Revel Casino, which cost $2.4 billion to build, opened in 2012 and closed on Sept. 2 after filing for its second bankruptcy in June. ...




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