From the Star Ledger:
The power company engaged in a prolonged legal battle over energy costs at the former Revel casino claims in a recent court filing that the boardwalk resort’s owner is trying to sell the property.
Lawyers for ACR Energy wrote in documents filed in federal court on Friday that Florida real estate developer Glenn Straub’s Polo North “refuses to pay for energy services, while it tries to flip the nonoperational complex to a new buyer.”
The filing further claims that Polo North has engaged in “knock-down-drag-out war rather than negotiate, leading one to conclude that Polo North is just not interested in operating any business or permitting any business to operate in the complex.”
Straub said he didn’t buy the Revel with the intention of flipping it.
“We didn’t buy it because we wanted to sell it,” he said. “We didn’t buy it if we weren’t going to develop it.”
But Straub also said if somebody makes an offer “that would turn our heads” on any of the properties or other assets his company owns, they’d consider it.
Polo North bought the former Revel Casino, which cost $2.4 billion to build, for $82 million in April. The casino was one of four to close in Atlantic City last year. Straub said then that the property may reopen as early as this summer.
It remains closed.