The Penguin re-opens the Iceberg Lounge in Detective 824 (Dec. 06), by Dini, Kramer and Faucher.
Batman pays him a visit, and the Penguin insists he is on the side of the angels, but still doesn’t want him anywhere around. However, the Penguin did invite Bruce Wayne to his big opening gala that night. Lois Lane is there, covering it for the Planet, and winding up getting a scoop from Wayne’s drunken starlet date. The Riddler also shows up, a respectable entrepreneur himself now.
The Penguin winds up the victim of the night, as some gamblers, in league with a crooked magician, are fixing a game and taking the casino for thousands. Bruce calls Zatanna for a bit of help on the case. Their relationship is shown as friendly and casual, which is surprising considering this is Batman. Dini will expand on the history between these two later in his run.
In the end, Batman winds up saving the Penguin from ruin, as he returns the money the crooks took him for. He’s not happy about it, but the money belongs to the Penguin more than anyone else.