Brookfield Asset Management is dropping its plan to buy Atlantic City's Revel Hotel Casino for $110 million, the Philadelphia Inquirer reported today. The deal fell apart over how much Brookfield would have to pay in fixed costs to the owners of the $129 million utility plant next door that chills water for air-conditioning, provides hot water, and distributes electricity to the $2.4 billion Revel. The sale of Revel, which closed Sept. 2, putting more than 3,000 people of out of work, was expected to be completed by the end of this year. It was not clear when Brookfield, which intended to operate it as a casino, would have reopened it.
