The Atlantic Ocean Club Casino Hotel’s closure in January 2014 sparked a strand reaction of resorts closing inwards the New island of Jersey beachfront gaming town. Three additional Atlantic Ocean City casinos unsympathetic that same yr — Showboat, Revel, and Trump Plaza — and the Trump Taj Mahal shuttered 2 years later inwards October 2016.
Almost ix years since the net guests exited the Boardwalk casino, a young futurity is rising for the Atlantic Ocean Club.
NJ Advance Media reported today that the property’s electric current owner, Rocco Sebastiani and his New House of York tangible acres investiture firm, Colosseo Development Group, Inc., wants to modernize the former gambling casino hotel into a opulence condominium complex. Specifics of the cast are to live revealed next month, Sebastiani said.
The electric current stipulation of the building’s midland is unknown. But the exterior has been cited for numerous refuge violations in recent years.
In the devolve of 2017, the cap of the Atlantic Club’s porte-cochere collapsed. And the followers spring, sections of the hotel’s exterior crumbled and drop to the Boardwalk below, jeopardizing footer refuge and rearing alarms around the structure’s overall condition.
Atlantic Club Past
Envisioned and reinforced past Steve Wynn, the Atlantic Ocean Club opened inward 1980 as the Golden Club. It quickly became a Rat Pack hangout, with Frank Sinatra, Dean Martin, and Sammy Davis Jr. among the casino’s too soon regulars.
After Wynn grew tired of New island of Jersey government and decided to issue the Atlantic City gaming scene, his Mirage Resorts sold the Atlantic Ocean Club to Bally Manufacturing inward 1987, and the cassino was rebranded Bally’s Grand.
The casino was once more renamed inwards 1996, this clip to Atlantic Ocean City Hilton, after Bally Manufacturing sold the resort to Hilton Hotels. The belongings became ACH Casino Resort after Hilton terminated its licensing concord with Colony Capital, which acquired Atlantic Ocean City Hilton in 2005 from Hilton Hotels.
As business organisation slowed in Atlantic Ocean City as gaming expanded into numerous states up and knock down the Orient Coast, the casino drop on difficult times. In 2012, the casino was rebranded erst to a greater extent to Atlantic Ocean Club inward what was an travail to puddle the resort a locals-focused casino.
The cassino officially closed in(p) its doors on Jan. 13, 2014. The former Caesars Entertainment and now-defunct Tropicana Entertainment together with acquired the Atlantic Ocean Club and its assets inward failure for simply $23.4 million. Tropicana bought the casino’s slot machines, tabularise games, and participant database, spell Caesars retained the physical property.
Caesars inward May 2014 sold the Atlantic Ocean Club to a FL existent estate loyal called TJM Properties for $13.5 million. TJM held on to the vacant asset until it found a vendee in Colosseo inwards 2019. The sales agreement cost was non disclosed publicly.
Atlantic Club Future
The former Atlantic Ocean Club has been targeted for an regalia of projects o'er the years. An indoor waterpark from an interested purchaser was floated inward 2017 to no avail, and Francis Richard Stockton University in 2018 considered purchasing the hotel to expand its Atlantic Ocean City campus.
The betting odds regarding the likelihood of the luxuriousness condo concept coming to realization are vague. But a clearer outlook testament likely emerge in one case Colosseo details its visual sensation next month.
“We are looking for forrard to workings inwards Atlantic Ocean City, and restoring such a great property,” Sebastiani commented during his 2019 purchase of the shut casino.