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New Revel Owner Says Casino Won't Reopen This Summer

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The casino at Atlantic City, N.J.'s former Revel resort won't reopen this summer, the property's new owner said yesterday, and it's doubtful whether any of the non-gambling attractions can be reopened by Labor Day, Dow Jones Daily Bankruptcy Review reported today. Glenn Straub made his comments following a federal court hearing yesterday at which he and utility company ACR Energy agreed to continue temporary electrical service there, even as he works toward getting an alternate power supplier at the site. Stuart Brown, ACR 's attorney, said the utility has millions of dollars' worth of equipment inside Revel and fears it could be damaged if Straub hooks an alternate source to it. He also said that without air conditioning, electrical equipment inside Revel is operating at higher than normal temperatures, increasing the risk it could be damaged.