Atlantic City isn't what it used to be, as the otherwise popular casino destination has experienced a rough time the past years and several casino's have closed down for good. One of the casino's which closed down due to the bad economy in the state is the Atlantic Club Casino, but that might be saved according to the Press of Atlantic City.
A Pennsylvanian real estate company is looking to buy the property and has allegedly agreed on a price to take over the hotel and casino property. While there's no official documentation in regards to the price and what will happen exactly to the casino, there has been filed property records for the property.
The records filed shows that an affiliate of Endeavor Property Group from Devon is purchasing the property from TJM Property, but as things has yet to be finalized, nothing has been made public yet. The deal was allegedly filed on December 29th in the Atlantic City Clerk's Office, which means details should be available soon.
Atlantic Club Casino will have to change their name no matter what, as the deed says that it can no longer be used as a casino in the otherwise gambling happy area. It hasn't been in operation for more than 12 months and it will take a long time after the purchase before it is ready to operate again.