The Atlantic Club Casino, a closed down casino based out of Atlantic City, New Jersey, was sold to a company from Florida this week, who plans to re-open the hotel side of the business but not the gambling part. The hotel has a massive 800 rooms alongside restaurants and other leisure activities. The hotel shut down in January this year and has been for sale ever since until TJM Properties bought it for an undisclosed amount.
This is the second hotel and casino that TJM Properties acquire in New Jersey this year and common for both of them is that they do not wish to continue having a casino inside the hotel. They bought the 500-room Claridge Hotel Casino, but decided to cut away the casino part and solely focus on regular hotel business.
"TJM is attracted to the Atlantic City market, and they believe that non-casino amenities have great value in the future of Atlantic City," Sherry Amos, Spokeswoman for TJM Properties said.
There is no time frame for re-opening the Atlantic Club Casino, as well as they have yet to decide exactly what they want to name their new hotel and how to run it. With more and more casinos and hotels struggling in New Jersey it will only be a matter of time before more are forced to close down and then it will be interesting to see if TJM will continue to buy places to run them without a casino.