An affiliate of Brookfield Asset Management got court approval to buy Atlantic City, N.J.’s shuttered Revel Casino Hotel for $110 million in cash on Tuesday after a judge rejected complaints the auction for the bankrupt complex was tainted, Reuters reported yesterday. "I have heard evidence to satisfy me that the sale to Brookfield should be confirmed," said U.S. Bankruptcy Court Judge Gloria Burns at the hearing in Camden, N.J. The Canadian investment firm's Brookfield Property Partners picked up the 1,400-room beachfront hotel and casino for a fraction of the $2.4 billion it cost to build. Glenn Straub, a Florida developer who was outbid by Brookfield, blasted the auction as unfair because it was declared over at 5 a.m. on Oct. 1 when he needed more time to put together a bid of up to $140 million.
