Revel's Fine Situation

$5,000. Every day.

For those unaware, Glenn Straub finally purchased Revel for $85 million. A $2 billion resort, mind you, that never fully repaid itself. He plans to turn it into some kind of something dubbed ‘Polo North,’ with many plans ranging from polo grounds to water parks, downsized casinos to hotel/residential. He even mentioned raising Revel’s planned-but-never-constructed second tower. It’s all completely up in the air, and the estimated additional costs for Polo North are $500 million.

Some people are just filthy rich.

But there’s a major problem. Remember ACR? The power plant built for and only servicing the Revel complex? The second the sale to Straub was official, ACR no longer was obligated to keep the lights on. The interim between ownership is over, and Straub’s sale did not include immediate repayment to ACR. So ACR pulled the plug. No lights, no air flow, and most importantly, no water. No water means no fire suppression. Not only is Revel susceptible to the salt air and possible mold growth, but if the tower catches fire, it’s done. Be it an innocent spark or intended arson, Revel has no defense. Should fire break out 6-700 feet up, it will be impossible to fight.

Active fire suppression systems (sprinklers, alarms, etc.) are a New Jersey requirement for buildings of Revel’s category. For being without fire safety, Revel was fined $10,000 on the first day. Subsequent days add additional $5,000 penalties. The power has been off since April 9. For those keeping score, that’s $40,000 in fines as of this article’s date (and please tell me you caught the pun in the title.) At this rate, the fines will bring the price back up to what Revel should have cost in the first place!

Aha, Straub said, but I have a solution! Instead of coming to terms with ACR, I’ll just truck in some temporary generators! A few rows of diesel-powered generators will provide enough basic power for the complex, including fire systems, until I get a more permanent plan in place! It’s perfect! Not… quite. Now the state has problems with the generators. Being diesel fueled, that creates exhaust and pollution, and a couple rows of that is creating an alleged air-quality issue, and Straub is being asked to find a greener way to power his new building.

Just… ugh.

The infamous Revel/Polo North generators.

Now I’m blaming the state. You really can’t just cut the guy a break?! Revel is the ultimate taxpayer’s burden, and there’s constantly been an issue with trying to revitalize the complex at every twist and turn. The state is simply being annoying. Then there’s ACR, the eternally sour power plant. You cut off your one and only customer, because they couldn’t pay you. But now, nobody’s paying you! Was this really the best thing to do? Is the principle really being heard here? Or are you guys just coming off like the butthurt pariah? If you had any decent business sense, ACR, you would keep racking up the IOUs on Revel, and add interest. (Because those generators still wouldn’t be a permanent solution.) That way when they finally can pay you, you’ll be rolling in it. You had the monopoly on them, and instead you cut them loose. If the building subsequently suffers, you will suffer too, maybe to the point where there won’t even be a building you can power.

NJ: Just give this guy a pass for now.

ACR: Restore the power and dream for an absolution.

Straub: I’m sorry, dude. Keep strong and carry on.

and Revel: Don’t forget to pay your $5,000 fine tomorrow!