3rd deal to sell shuttered Atlantic City casino fails

September 27, 2018 - 2:20 pm

ATLANTIC CITY, N.J. (AP) — Like a bad check, the former Atlantic Club casino in Atlantic City keeps getting returned.

A deal to sell the shuttered casino has fallen through for the third time in as many years.

The latest involved a bid by Stockton University to buy the casino property as part of its new Atlantic City campus.

But Stockton wanted the parking garage and the land; the casino and hotel buildings would have been razed.

TJM Properties of St. Petersburg, Florida, pronounced the deal dead Thursday. No purchase price was ever revealed.

It's trying to have a deed restriction lifted that prevents the property from being used again as a casino.

The Atlantic Club closed in 2014, the first of four Atlantic City casinos to do so that year.

AP Editorial Categories: 
Comments ()