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Revel Atlantic City
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Revel Atlantic City
由 jeepster » 2014-09-30 11:36
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Brookfield reportedly has top bid for bankrupt Revel Casino
由 jeepster » 2014-09-30 11:37
The auction for the bankrupt Atlantic City hotel/casino began last week and resumed this morning, with an affiliate of Brookfield Asset Management (BAM) topping a $90M all-cash offer from Florida-based real estate developer Glenn Straub, reports the WSJ.
Should Straub not win the auction, he would collect a $3M breakup fee for serving as the lead bidder. In any case, the fate of the property could end up in court thanks to a budding legal dispute between Straub and Revel.
Should Straub not win the auction, he would collect a $3M breakup fee for serving as the lead bidder. In any case, the fate of the property could end up in court thanks to a budding legal dispute between Straub and Revel.
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Atlantic City's Revel casino snatched up for $110M
由 jeepster » 2014-10-01 21:27
A Canadian asset management company won a bankruptcy court auction for the failed Revel casino hotel and announced plans to re-open it as a casino. Toronto-based Brookfield US Holdings will pay $110 million to buy the 2-year-old casino that cost $2.4 billion to build, adding it to casinos it owns in Las Vegas and the Bahamas.
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