The ongoing saga of the former Revel casino in Atlantic City, N.J., continued this week as a bankruptcy judge made a ruling that could be a "blow" for owner and Florida developer Glenn Straub but a boon for one of its tenants, the Philadelphia Business Journal reported yesterday. Straub and his legal entity, Polo North Country Club Inc., have been in an ongoing legal battle with IDEA Boardwalk Inc., the club operator tenant at the former Revel, which is now known as Ten after a rebranding last month. IDEA been in litigation against Polo North since at least 2015 when a federal judge approved the casino's sale, and since at least 2013 with former parent company, Revel Entertainment Group, when it emerged from chapter 11 protection. Bankruptcy Judge Michael B. Kaplan recently told Straub and IDEA to take their ongoing battle to state court. On Oct. 21, Judge Kaplan ruled that IDEA could remain in possession of its leased space as long as it lived up to terms of the prior lease agreement with the casino, specifically its obligation to pay rent, according to Michael J. Viscount Jr. of Fox Rothschild LLP.
