Brookfield gets court OK to buy Atlantic City's Revel casino

Tue Oct 7, 2014 1:00pm EDT
 
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By Tom Hals

Oct 7 (Reuters) - An affiliate of Brookfield Asset Management on Tuesday got court approval to buy Atlantic City, New Jersey's shuttered Revel Casino Hotel for $110 million in cash after a judge rejected complaints the auction for the bankrupt complex was tainted.

The losing bidder, Glenn Straub of Florida, objected because he said the auction was unfair. U.S. Bankruptcy Judge Gloria Burns in Camden, New Jersey, overruled Straub and rejected his request to run a new auction overseen by an independent trustee. (Reporting by Tom Hals in Wilmington, Delaware; Editing by Chizu Nomiyama)