It was announced that Glenn Straub – the current owner of Revel Casino, and ACR Energy Partners have reached an agreement over the electricity supply of the shuttered casino.
According to the clauses the agreement contains, ACR will resume the delivery of electricity to the property for half a month. During the debates, both parties agreed the suppression and fire detection systems to continue operating. For that purpose, Glenn Straub is to pay the amount of $262,500 for 2 megawatts during the two-week period.
According to a representative of ACR, the electricity supply will be resumed today as electricians are currently working on its restoration.
The lawyer of ACR said that if everything goes as planned, the electricity will be resumed within the next couple of hours. As for Mr. Straub, he was not imminently reached for a comment.
Meanwhile, he had to pay solid fines for violating the state fire safety rules and regulations. Two weeks ago, ACR Energy Partners disconnected Revel from the electricity grid and company representatives explained that they were not going to provide their services without being financially compensated for that.
During the time when Revel was disconnected from the electricity grid, Glenn Straub had to pay $5,000 on a daily basis due to the fact the fire safety systems were not working. In case of a fire in the 47-story building, the lack of water will make the fire extinguishing impossible.
Apart from the serious damages the continuous lack of electricity would cause to the building, there is another important issue that should not be underestimated. The property is quite high and there is a red light at the top, which keeps aircrafts away from it during severe weather conditions and at the darker part of twilight.
ACR managed to obtain a restraining order that restricts Straub from applying any of the energy supply methods he proposed. The Florida developer planned to use the ACR equipment for providing Revel with electricity.
People with knowledge on the matter supposed the disagreements will be taken to court so a permanent restraining order can be given but the court hearing was canceled as soon as an agreement was reached.
However, the judge urged the affected parties to come to a long-term agreement as the lack of hot water, heat and air conditioning will have a devastating effect on the property.
