The resulting stalemate was interesting as Straub cannot operate without that power station and that power station has no other entity for which its services are required to operate. The result was that ACR, until recently, held steadfastly to the position that it was due compensation, in full, for the debt to them accrued by Revel. The problem, of course, is that they didn't. Unfortunately, he found himself at odds with ACR Energy Partners, an entity that built a power station exclusively for Revel and was the only means by which Revel might enjoy electricity and running water.ĪCR Energy Partners was also a not insignificant contributor to Revel's catastrophic demise as Revel was forced to pay unbelievably exorbitant amounts for its utilities.
The ultimate buyer of the property was known real estate developer Glenn Straub. In fact, it was often joked that the bankrupt company would garner more revenue from the forfeited deposits than the amount for which it would eventually sell. Multiple entities, at one point or another, deposited ten million dollars for the right to consider purchasing the establishment, and multiple entities subsequently forfeited said deposits.
To summarize, there were any number of potential buyers, but in an unusual turn of fortune, this resulted in a race to the bottom for bidders as opposed to one to the top.
