A paperwork delay means the Tintaldra Hotel will not reopen on Saturday, December 7, as first planned.
Mark Sewell, who will run the Upper Murray pub with his wife Michelle, said the licence transfer had not yet been finalised.
Mr Sewell and business partner Darren Jones have not set a new starting date, but hope to open within weeks.
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Works continue to prepare the hotel, which has been shut for about a year.
"The feedback we're getting is great from people that call past and say hello," Mr Sewell said.
"We love the history of the pub, being the first pub on the Murray River is something we like being attached to it," he said.
"The area is also fantastic."