Brookfield Terminates Plans to Buy Revel

    Toronto-based Brookfield Asset Management has terminated its plans to acquire the shuttered Revel Casino Hotel in Atlantic City for $110 million from bankruptcy court, AP reports. The company had intentions to reopen the business as a casino hotel. The withdrawal could bring Florida developer Glenn Straub, the first to put a bid on Revel, back into the picture. Straub had offered $90 million to acquire the property but was eventually outbid by Brookfield.

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