Glenn Straub is “at it again,” according to lawyers for a handful of deserted restaurants trapped inside the shuttered Revel Casino Hotel in Atlantic City, N.J., the Wall Street Journal Bankruptcy Beat Blog reported yesterday. Bankruptcy court papers filed earlier this month show yet another dispute between the restaurants and the Florida-based developer has flared up, this time fueled by nearly a quarter million dollars of alcohol — beer, wine and liquor left behind in the darkened resort. Last spring, a bankruptcy judge approved an $82 million sale of Revel to Straub, ending nearly 10 months of courtroom struggles for control of the property. The purchase price amounted to more than a 96 percent discount from the $2.4 billion it cost to build Revel. Revel never turned a profit after opening its doors in 2012 and landed in chapter 11 twice in just two years. But the judge’s order left unresolved one of the stickiest aspects of the sale: whether former business tenants, including the restaurants, can remain at Revel when — and if — the property reopens. The issue remains tied up in litigation.
