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Brookfield Asset Management Inc

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  • March 13- Revel Casino's hard luck continues after a U.S. Bankruptcy Court judge rejected its agreement for a sale to a Florida developer for $82 million, marking the third failed deal for the shuttered hotel in New Jersey's struggling seaside resort of Atlantic City. Revel was one of four casinos to close last year in Atlantic City, which is struggling with a...

  • Bankruptcy Court judge on Friday declined to approve the proposed sale of the shuttered Revel Casino Hotel in Atlantic City, New Jersey, for $82 million because she said she lacked jurisdiction. Judge Gloria Burns in Camden, New Jersey, said she could not approve the sale because it would interfere with an appeal being pursued by casino tenants who argue that the...

  • NEW YORK, Feb 24- The shuttered Revel Casino Hotel in Atlantic City, New Jersey, again has a buyer- and again it's Florida developer Glenn Straub, who was lured back by a discounted price of $82 million. New Jersey's governor, Chris Christie, recently appointed an emergency manager to reinvigorate the city's finances and appointed Kevyn Orr, who put Detroit into...

  • WILMINGTON, Del., Feb 10- The Revel Casino Hotel in Atlantic City, New Jersey, asked a U.S. bankruptcy judge to end its agreement to sell the gambling complex to Florida developer Glenn Straub for $95.4 million, according to a Tuesday court filing. The hotel's legal team also asked Judge Gloria Burns in Camden, New Jersey, for permission to keep Straub's $10 million...

  • CAMDEN, N.J., Feb 9- A lawyer representing the buyer of the bankrupt Revel Casino in Atlantic City said his client would miss a midnight Monday deadline to complete the purchase, amid concerns over precisely what his client is buying. Florida developer Glen Straub wanted to buy the casino without any obligation to existing leases held by the bars, clubs and...

  • CAMDEN, New Jersey, Jan 5- A U.S. bankruptcy judge approved on Monday the sale of the shuttered Revel Casino Hotel in Atlantic City, New Jersey, to a Florida developer for $95.4 million, a price the buyer said he now doesn't want to pay. Judge Gloria Burns in Camden, New Jersey, approved the sale to Glen Straub but rejected his argument that the price should be cut to $87...

  • LONDON, Dec 4- Qatar's sovereign wealth fund and a North American investor have upped their joint bid for Songbird Estates, the owner of London's Canary Wharf financial district, with an offer that values the company at 2.6 billion pounds. Songbird is the majority owner of the Canary Wharf estate, established about 25 years ago on former docks as a new financial...

  • Oct 7- An affiliate of Brookfield Asset Management got court approval to buy Atlantic City, New Jersey'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. "I have heard evidence to satisfy me that the sale to Brookfield should be confirmed," said U.S. Bankruptcy...

  • Oct 7- 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.

  • Oct 1- An affiliate of Brookfield Asset Management won the auction for Atlantic City, New Jersey's bankrupt Revel Casino Hotel with a $110 million bid, but within hours the losing bidder told Reuters he planned to fight the sale. Asked if he would challenge the auction result in court, Florida developer Glenn Straub told Reuters by phone: "absolutely."

  • Oct 1- An affiliate of Brookfield Asset Management won the auction for Atlantic City, New Jersey's bankrupt Revel Casino Hotel with a $110 million bid, but within hours the losing bidder told Reuters he planned to fight the sale in court. Asked if he would challenge the auction result in court, Florida developer Glenn Straub told Reuters by phone: "absolutely."

  • Oct 1- Brookfield Asset Management won the auction for Atlantic City's bankrupt Revel Casino Hotel with a $110 million bid, said two sources familiar with the situation. Revel Casino, which cost $2.4 billion to build, opened in 2012 and closed on Sept. 2 after filing for its second bankruptcy in June.

  • Brookfield wins auction for bankrupt Revel Casino Wednesday, 1 Oct 2014 | 7:09 AM ET

    Oct 1- Brookfield Asset Management has won the auction for Atlantic City's bankrupt Revel Casino Hotel, said a source familiar with the situation. The company bid $110 million for the casino complex, topping a $90- million bid by Florida real estate developer Glenn Straub, who did not submit a superior bid by 5.00 a.m. ET, the source said.

  • Sept 30- An affiliate of Brookfield Asset Management has topped Florida real estate developer Glenn Straub's $90 million bid for the bankrupt Revel Casino Hotel in Atlantic City, the Wall Street Journal reported, citing sources.

  • Brookfield bids for Atlantic City's Revel Casino - WSJ Tuesday, 30 Sep 2014 | 1:24 PM ET

    Sept 30- An affiliate of Brookfield Asset Management has topped Florida real estate developer Glenn Straub's $90 million bid for the bankrupt Revel Casino Hotel in Atlantic City, the Wall Street Journal reported, citing sources.

  • U.S. stock index futures turned lower and interest rates spiked after the government reported a brighter-than-expected report on the labor market.

  • Weak jobs report expected, but what if it's not? Thursday, 7 Nov 2013 | 7:11 PM ET
    People looking for work stand in line to apply for a job during a job fair in Miami on May 2.

    October's jobs report is expected to be one of the weakest of the year, distorted by the impact of the 16-day government shutdown.

  • 'Buffett of Canada' says he's a big bull on the US Friday, 9 Aug 2013 | 12:23 PM ET
    Bruce Flatt

    With $100 billion in assets in the United States already, the man many call the Warren Buffett of Canada told CNBC that he's "still putting money into America."

  • *Third-quarter FFO 23 cents matches Wall St view. Improving retail sales and consumer confidence have been good news for mall owners, including Simon Property Group Inc and Macerich Co, which have seen stronger sales at their tenants' stores in the third quarter.

  • UPDATE 3-Simon Property FFO rises, tops expectations Thursday, 25 Oct 2012 | 7:25 PM ET

    *Q3 FF0 $1.99/ share vs Street view $1.92. Oct 25- Simon Property Group Inc reported a 19 percent increase in a key earnings measure Thursday on higher rents and sales at its malls and outlet centers, easily beating estimates, and the real estate investment trust raised its outlook for the year.