Brookfield wins Revel Casino auction, but loser vows to fight

By Tom Hals (Reuters) - An affiliate of Brookfield Asset Management won the auction for Atlantic City, New Jersey's bankrupt Revel Casino Hotel with a $110 million bid, but within hours the losing bidder told Reuters he planned to fight the sale. Asked if he would challenge the auction result in court, Florida developer Glenn Straub told Reuters by phone: "absolutely." The auction for the shuttered hotel and casino, which cost $2.4 billion to build, concluded early Wednesday behind closed doors in the New York law office of White & Case. ... Read More http://ift.tt/1wYwzgQ