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Atlantic Club Casino Hotel Sale Falls Through Once Again

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Florida real estate Company TJM Properties will remain the owner of the shuttered Atlantic Club Following the latest of a flurry of Unsuccessful sale deals

Another sale deal for the shuttered Atlantic Club Casino Hotel in Atlantic City has dropped, neighborhood news outlet The Press of Atlantic City reported Tuesday.

Reports emerged last month a notice of reimbursement to the sale of the closed hotel and casino property was registered by Atlantic County. According to the filing, Philadelphia-based investment management firm North American Acquisitions was the purchaser of the Boardwalk hotel.

A spokesperson for the Atlantic Club’s current owner, Florida-based property company TJM Properties, denied the selling reports back afterward . He advised The Press of Atlantic City a month which TJM had spoken with Jeffrey Smolinsky, a Senior Partner in North American Acquisitions, a handful of times but had not heard from him in a Couple of Weeks.

Apparently, the owner of the shuttered casino continued on February 19 the formerly submitted notice of settlement that denoted the impending sale of their property. TJM did not respond to requests for comment on the latest developments surrounding the former hotel and casino hotel.

The Atlantic Club closed in January 2014 after more than three decades of operations. The property was the initial of five Boardwalk hotel and casino resorts to shut doors over a two and a half a year consequently from growing rivalry in the area and the city’s diminished economy in the post-Great Recession era.

Another Failed Sale Deal of Many

Caesars Entertainment Corp. and Tropicana Entertainment had purchased the Atlantic Club shortly before it was shuttered. Caesars assumed control over the house to market it to TJM Properties five weeks after its closure.

The Florida real estate firm has tried to market the unfortunate hotel and casino hotel many times over the past five years, but with little success. Reports emerged late last year that New York property company Advanced Consulting Inc. was interested in buying the Atlantic Club and reopen it as a non-gambling hotel and entertainment resort.

Earlier in 2018, Stockton University unveiled plans to buy the closed house and utilize its own nine-level garage and the neighboring land for its Atlantic City expansion purposes. Stockton officials stated they would demolish the hotel ’s building to clear the site. However, a transaction never happened.

A growth group had, also, expressed interest from the Atlantic Club a few years back. It’d planned to renovate and change the former hotel and casino complex to a family-friendly destination hotel with an indoor water park and many other attractions. Those programs had died two only a couple of months after their original unveiling.

Follow us Facebook and Twitter to stay up to date on daily ’s leading casino news reports.

Golden Nugget has just started its online sportsbook, but New Jersey bettors won’t be able to bet on NBA matches Golden Nugget Atlantic City today operates an electronic sportsbook along with its in-person betting facility. In a Thursday press release, the Boardwalk property announced that bettors can currently… Read

Another Atlantic City Boardwalk home might have found a new owner after New York hedge fund Luxor Capital Group agreed to Purchase Ocean Resort Casino, the prior Revel, from Colorado businessman Bruce Deifik A touch of reimbursement to the sale of this shuttered Atlantic Club Casino Hotel has been registered… Read

New Jersey’s sports gambling market develops as Hard Rock launches wagering before next week’s Super Bowl game Better late than not, Hard Rock Hotel & Casino Atlantic City has joined the New Jersey sports gambling party. Property officials confirmed Saturday the Beginning of a “soft-play” testing of equipment and also… Read

Hard Rock and GiG expand their current partnership to jointly operate sports gambling in Hard Rock Hotel & Casino Atlantic City Hard Rock International is set to leap right into New Jersey’s booming sports gambling marketplace in a few months’ time, it became known yesterday. The Business said in a statement… Read More

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