New York Firm Interested in Buying Shuttered Atlantic Club
One of these times when a report surfaces that Atlantic City's former Atlantic Club Casino has found a buyer, it will actually come to fruition. Could this be that time?
The Press of Atlantic City is reporting that a New York real estate company is in negotiations to buy the shuttered casino.
Advanced Consulting Inc. is talking with Florida-based property owner TJM to purchase the building and turn it into a non-gambling hotel and resort, according to Advanced Consulting company CEO Gem Lake.
“Work is being done, and we’re in heavy negotiations,” Lake told the Press of Atlantic City by phone Wednesday.
Known as the "locals casino" in its later days, and at different incarnations over the years as the Golden Nugget, Bally's Grand, The Grand, Atlantic City Hilton and ACH, the Atlantic Club has been closed since January, 2014.
Over the past five years, a number of suitors have expressed interest in the Atlantic Club, including most recently, Stockton University, but all have stepped away from a deal with Florida-based property owner TJM.
We will continue to monitor talk of a possible sale and hope for a new occupant for the Atlantic Club in 2019.
Source: Press of Atlantic City