Club owners want to stay put if Revel casino sold at bankruptcy sale Monday; court set to rule
The owners of a nightclub inside the shuttered Revel Hotel Casino in Atlantic City, New Jersey, want to stay put even if the property is sold Monday.
The $3 billion Revel casino has been closed since September but has a buyer set to pay $95 million in a bankruptcy sale.
The scheduled sale is now on hold over the HQ Nightclub lease.
Lawyer Jeffrey Cooper argued in an emergency court hearing Friday that the club was profitable and has a valid lease.
But Third U.S. Circuit Judge Thomas Ambro in Philadelphia wondered if his point isn't moot given that the building's been empty.
Revel's lawyers say the sale to a Florida developer should proceed for the sake of the struggling city.
The judges hope to rule late Friday.