New Atlantic Club Deal Pending – Is Third Time the Charm?
Is this deal for real? After two failed plans to reopen the former Atlantic Club Casino since its closing three years ago, word is that another group is interested in buying the shuttered casino.
The Press of Atlantic City is reporting that TJM Properties, the Florida-based owner of the Atlantic Club, said they have a contract with a group and are waiting for the "hard money" for the deal, which is expected to come later this week. The company's name was not given.
Since closing, two deals have been floated to turn the site into a water park, but both potential buyers came up short on capital. There's no word yet on what these new developers have in mind for the building.
Mayor Don Guardian has said that he knows of recent interest in the property from two different developers and that there is already speculation of whether to remodel the building or tear it down and start again.
Source: The Press of Atlantic City