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October 17, 2015

More bad luck: Company plans to cut power to AC's Revel

The bad luck keeps happening for a former casino.

The Bank of New York Mellon has begun foreclosure proceedings against ACR Energy Partners, which supplies all power to Atlantic City's former Revel casino. The $2.4 billion casino closed a year ago.

The energy company and Revel owner Glenn Straub have been unable to strike a deal to provide utility services for the building, Newsworks reports.

ACR is providing enough electricity to power fire-safety systems at Revel under court order. 

But the bank says Straub is $800,000 behind.

ACR says it has offered to provide heat for the winter to Revel to prevent pipes from freezing and bursting if a price is agreed on.

Straub bought Revel, which cost $2.4 billion to build, out of bankruptcy court on April 7 for $82 million.

Two days later, ACR cut off utility service.