Property has been without energy since April 9
Glenn Straub and ACR Energy reach Revel power deal
CR Energy Partners has reached terms with the owner of the former Revel resort to power the complex for two weeks.
2015-04-24
Reading time 32 seg
CR Energy Partners has reached terms with the owner of the former Revel resort to power the complex for two weeks.
The proposal calls for Glenn Straub's Polo North Country Club to pay about $262,000 for two weeks of power, ACR attorney Stuart Brown said. The payment is a retainer for the estimated cost of power and related services to the property. ACR says the money will cover up to 2 megawatts of electricity.
The property has been without energy since April 9, when ACR cut power over a fee dispute, two days after Polo North bought it for $82 million.
Atlantic City officials say the closed resort is a fire trap because there’s no power to run a fire-suppression system there. The city says it is fining Polo North $5,000 for every day power is off.
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