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- The Atlantic Club Casino
The widely criticized deed restrictions that Caesars placed on three of its former holdings in Atlantic City–the Showboat Hotel, Claridge Hotel, and the former Atlantic Club–preventing any of them from opening a new casino remain in effect. The 2018 openings of Hard Rock and Ocean Casino turned the spotlight away from whatever might have happened with Atlantic Club, too. Atlantic Club history lesson. If and when the property does reopen, there is a good chance The Atlantic Club sign will no longer be on the building. Just call it the latest swap on a very long list of property names.
The long-closed Atlantic Club Casino has finally been sold. Florida-based TJM Properties confirmed on Tuesday that it has sold the shuttered property to Colosseo Atlantic City Inc., an investment and construction firm based out of New York. Financial details were not disclosed.
The Atlantic Club was one of the first casinos in Atlantic City, opening in December 1980, but it will not be revived as a gambling venue. In fact, there is a deed restriction that prevents it from being a casino. Instead, Colosseo plans to reopen it as an 800-room hotel. The property will also include new dining and retail.
“It’s got a lot of renovating that needs to be done; that’s what we do,”Colosseo’s Rocco Sebastiani said. “We buy assets that need a lot of work and bring them up to market.”
The Atlantic Club is located at Boston Avenue and the Boardwalk, the south end of Atlantic City’s stretch of casinos (or west end, depending on how you look at a map).
Rummy Pandit, executive director of the Lloyd D. Levenson Institute of Gaming, Hospitality, and Tourism at Atlantic City’s Stockton University, told The Press of Atlantic City that the revived property could really help that end of the Boardwalk.
“If the property is marketed to a predefined segment, it’s going to be very successful,” he said. “Its location is amazing. … So this end of the Boardwalk would certainly benefit from that.”
City Council President Marty Small, Sr. said that the sale of the Atlantic Club is “great news for our city.”
The Atlantic Club closed in January 2014, the first of four Atlantic City casinos to close that year. A month prior, Judge Gloria M. Burns of U.S. Bankruptcy Court in Camden, New Jersey approved the sale of the casino for just $23.4 million to Caesars Entertainment and Tropicana Entertainment. Caesars paid $15 million for the property, while Tropicana paid the remainder for the slot machines and table games. Caesars removed many of the non-gambling assets of the casino and sent them to its four other local casinos.
There have been many near-deals to buy the Atlantic Club over the years. One of the most interesting to our readers was actually by the Rational Group in January 2013. Rational Group was at the time the parent company of PokerStars and Full Tilt Poker.
Back then, PokerStars had no presence in the United States. The Rational Group filed for an interim casino authorization with the New Jersey Division of Gaming Enforcement and was using the opportunity to try to re-enter the U.S. market. It wanted to rehab the casino and, of course, wanted to get in on the online poker market that was to launch later in the year.
A few months later, the deal fell through, likely scuttled by fears about PokerStars’ worthiness. The American Gaming Association filed a brief with the DGE and Casino Control Commission, protesting the Rational Group’s casino application because PokerStars continued to accept U.S. customers after the UIGEA passed in 2006. Some state legislators, including Assemblyman Ralph Caputo, took sides with the AGA, not wanting a company with PokerStars history of “criminal accusations and illegal gambling” to be able to own a casino in Atlantic City.
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About Atlantic Casino Club
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Atlantic Casino Club is yet another site that forms the reputable Game Tech Group of reliable gaming destinations. The casino, just like most of its sister sites, was launched in 2015 and features hundreds of popular slots, table games and video poker titles. Leading providers NetEnt, BetSoft and NextGen are only a few suppliers whose products can be found at this gaming destination. Atlantic Casino Club has an interesting, yet simple, design that makes playing there very pleasant. The site’s game offer is regularly updated, plus users are often pampered with bonuses and free cash. Atlantic Casino Club is also a safe and secure online gaming site; it holds the well-known SSL seal of approval, plus its licensed by the Government of Curacao.
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Customers at Atlantic Casino Club are always provided the best possible support by the operator. This means that they can get in touch with an agent at any given time of the day, any day of the week using one of the two provided options: e-mail and live chat. In addition, the casino has a very helpful FAQ section where the most commonly asked questions are thoroughly explained.