Brookfield Asset Management has won the auction for Atlantic City's bankrupt Revel Casino Hotel, reports NBC News.

Revel Casino

According to an unnamed source, the company bid $110m for the casino complex, beating the $90m bid from Florida real-estate developer Glenn Straub.

It is reported that Straub did not submit a superior bid by the 5am ET (10am GMT) deadline, rendering Brookfield the winner.

Revel, which cost $2.4bn to build, closed on September 2, just two years after opening.

InterGame has approached Brookfield but the company is yet to comment.