Polo North and ACR are at loggerheads over ACR’s power plant, which ACR built on leased land adjacent to the casino-hotel. Polo North bought that land, along with the entire Revel campus, for The Revel casino has been a thorn in New Jersey’s side for a number of months. First because there were a number of hurdles involved in the sales process and after a lot of court hearings, the Revel casino was finally sold to Glenn Straub, a Florida real estate developer.. The former Revel casino received its entire power supply from ACR Energy Partners as there were no other alternatives ACR Energy stopped supplying power to the Revel starting last Thursday, following through on several threats they had made throughout the course of Straub’s purchase of the former casino. ACR Energy Partners had told Revel’s owners it would cut off service to the building at 5 p.m. Thursday over unpaid bills. But the company and the casino agreed Thursday morning to keep the ACR Energy Partners, the power company which provides electricity for the Revel Casino, is suing Polo North to keep the casino’s new owners from using any of ACR’s equipment. The lawsuit against Glenn Straub and Polo North Country Club states that any attempt to use such equipment is likely to “cause serious human injury or death”. The power company, which is the only supplier of Revel said in court papers Monday that it received a letter from ACR Energy Partners LLC over the weekend announcing its plan to terminate service, which the casino company called a violation of ACR Energy Partners and the Revel Casino’s new owners, Polo North, came to a long-awaited agreement in a months-long lawsuit over electricity costs. The deal should open the door to Revel Casino’s reopening sometime in 2016. According to NJ.com, U.S. District Court Judge Jerome Simandle helped arrange a deal between the three main interested parties: Polo North, ACR Energy, and Bank of New With the change Glenn found behind his couch cushions, the owner of the former Revel Casino reports that he has a deal to buy the ACR energy plant in Revel’s back yard. Straub will fork over $30 million to plant owner-operator ACR Energy Partners. In turn, ACR will add $15 mil on top of that $30 mil, in order to pay down a debt with bondholders who want to foreclose on the energy plant.
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