- Associated Press - Wednesday, December 2, 2015

ATLANTIC CITY, N.J. (AP) - Revel owner Glenn Straub’s purchase of the power plant supplying utility service to the shuttered casino remains on track.

But the closing will not take place Wednesday.

His lawyer, Stuart Moskovitz, says representatives of Straub’s Polo North Country Club and ACR Energy Partners will meet Wednesday to go over paperwork. But some documents remain to be completed and reviewed, so the deal will not close on Wednesday as anticipated.

Moskovitz says the deal is still “on target,” adding he sees no serious obstacles.

Straub will pay $30 million for the plant, and ACR will pay $15 million into an escrow account to pay off power plant bondholders.



Litigation over the power plant has been the main obstacle to re-opening the $2.4 billion casino, which closed in September 2014.

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