UPDATE: A press release from Capital Recovery Group Wednesday afternoon identified the buyer of Clementon Park as Clementon Park Holdings LLC, a division of Indiana Beach Amusement and Water Park, which is a small amusement park located roughly between Indianapolis and Chicago. Our original report continues below.

A 114-year-old amusement park in the heart of South Jersey, which has seen better days, appears to be getting a new lease on life.

Clementon Park and Splash World was purchased in its entirety Tuesday at auction for $2.37 million, according to a report by NJ.com.

"Entirety" is the key word here as all of the rides, fixtures, and other elements -- including a lake and a dam -- could have been purchased separately, which likely would have been the end of the famous Camden County attraction.

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The recent history of Clementon Park reads this way: the park closed without warning right after Labor Day in 2019. TD Bank filed a lawsuit soon after because the owners failed to make payments on a $4.5 million loan. In January, 2021, the park went into receivership. On Tuesday, the park went up for auction and it was sold to an undisclosed buyer.

Bill Firestone, CEO of Capital Recovery Group, the auction company, told NJ.com, "I was basically very happy of the result, especially because someone is going to buy it and going to open it. My indication is he wants to move very quickly."

Clementon Park was founded in 1907 by Civil War veteran and New Jersey Assemblyman Theodore B. Gibbs and his two sons. A nickelodeon theater was added in the 1920s, a fire almost destroyed it in the 1930s, and Dick Clark held dance marathons at its ballroom through the 1950s. An aquatic playland opened in 2008 and some larger rides were added around 2010.

Clementon Park & Splash World Amusement Park in 2021

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