Things have been looking up for Atlantic City for some time, and now 2018 looks set to be even better. For starters, 2018 will see the former Trump Taj Mahal casino reopen as Hard Rock Atlantic City, but now there may be another casino reopening next year. A recent report has come out that hinted at the possibility of the Atlantic Club being sold to a new owner.
Atlantic Club Deal Could be Imminent
The reports were published by The Press of Atlantic City, reporting that the current owners are in the process of finalizing a deal with an unnamed buyer. The Atlantic Club is currently owned by TJM Properties, who is based in Florida, and it told the newspaper that it is simply waiting for ‘hard cash’ for the deal to go through.
The Atlantic Club closed back in January 2014. It was one of four casinos in Atlantic City to close due to the recession. The other casualties of 2014 included The Showboat, Revel, and Trump Plaza. The Trump Taj Mahal stayed open for a few more years, before closing in late 2016. So far, things have been going much better for Atlantic City, especially in 2017. The casino industry has increased its revenue by 2% in August. This increases to more than 9% when you factor in online casinos.
Future Still Unclear for Atlantic Club
The Atlantic Club was originally built back in 1980, but it was called the Golden Nugget back then. Since it opened, it has undergone several name changes. Seven years after opening, it became Ballys, before it became the Atlantic City Hilton in 1998. It then went on to be called the ACH Casino Resort in 2011, before finally becoming the Atlantic Club in 2012 until it closed two years later.
However, the future of the Atlantic Club is still a bit of a mystery. If the deal goes through, no one is exactly sure on what will happen to the hotel and casino. The property has an 801-room hotel and a 75 000-square foot gaming floor. It could just go straight back to being a hotel and casino. However, there have also been plans to turn it into an entertainment complex that is family friendly, including a waterpark.