Cozen O’Connor: Ira Megdal quoted in NJBiz article

Ira Megdal quoted in NJBiz article

Tuesday, August 9, 2011

Ira Megdal was quoted in NJBiz article "Casino Has a Green Energy Plan" regarding an Atlantic City casino which plans to use clean energy from a cogeneration facility. Megdal handled the transaction for the $160 million project to be developed.

"It's quite an involved deal, as you might imagine," Megdal said. "There's a lease agreement by which ACR leases real estate from the Revel. That's one part. In addition, there's an agreement for providing for the construction of the facility and the same agreement — an energy sales agreement — provides for the sale of thermal energy to the Revel Casino and Hotel over a long period of time."