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Revel heated, Straub says

Revel heated, Straub says

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The former Revel Casino Hotel in Atlantic City.

ATLANTIC CITY — Heat has returned to Revel Casino Hotel, according to Glenn Straub, whose company owns the shuttered building.

The property was unheated for more than eight months as his Polo North Country Club Inc. feuded with a power supplier over fees.

The 6.2 million-square-foot complex — including one of New Jersey’s tallest buildings — could have suffered extensive damage if it remained unheated through the winter, when freezing temperatures can cause burst pipes.

The city threatened to issue fines and said it would consider litigation if the building’s interior dipped below 40 degrees.

Not to worry, Straub said Tuesday.

“The whole building’s heated except for the second tower. We’ll get that tomorrow,” he said. “Matter of fact, I’m going to sleep over here tonight, it’s so hot in this building.”

Straub said the process of heating the property unfolded over the last 10 days.

Polo North fought for months with ACR Energy Partners over fees connected to construction of ACR’s power plant, which was built across the street from Revel on land leased from the casino-hotel. Polo North bought that land, along with the Revel complex, for $82 million in April.

ACR wanted Polo North to repay about $119 million in municipal bonds ACR used to build the plant. Polo North refused.

In November, both companies, along with a trustee for the bondholders, decided to settle a federal court case over the dispute, with Polo North and ACR agreeing to pay the bondholders $30 million and $15 million, respectively.

On Friday, a federal judge dismissed the case. Chief U.S. District Judge Jerome Simandle, in Camden, remains on call to enforce the terms of the settlement.

Contact: 609-272-7239

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