ATLANTIC CITY, N.J. (AP) — As one Atlantic City casino after another shut down and left thousands of workers jobless, Mayor Don Guardian insisted that the meltdown that claimed four of his city's 12 casinos since January was actually the opportunity of a lifetime for savvy investors. A Canadian asset management company won a bankruptcy court auction for the failed Revel casino hotel and announced plans to re-open it as a casino. Toronto-based Brookfield US Holdings LLC will pay $110 million to buy the 2-year-old casino that cost $2.4 billion to build, adding it to casinos it owns in Las Vegas and the Bahamas. Brookfield told securities regulators in August that it was unable to make an interest payment due that month, and was trying to work things out with its lenders, who could demand immediate repayment of nearly $1 billion in debt. "Revel is a brand-new trophy asset on the beachfront, which we are acquiring at a substantial discount to replacement cost," Willis said.