An iconic Atlantic City Boardwalk casino will be transformed into a family-friendly resort destination, it became clear on Monday. Real estate developer R&R Development Group is set to buy the shuttered Atlantic Club Casino Hotel for an undisclosed price.
The property was launched in 1980 as Golden Nugget. The former casino resort turned into an major player on the Atlantic City casino scene and played an important part in the city’s establishment as a major gambling hub. It was owned by casino tycoon Steve Wynn at some point and welcomed popular celebrities such as Frank Sinatra, Dolly Parton, Dean Martin, and many more, during its most glorious days. The venue was among the four Atlantic City casino properties to close doors in 2014.
The Atlantic Club’s new owner – Ronald Young – and his real estate development firm are planning to invest over $135 million in renovating the former resort and turn it into a popular non-gambling destination. Mr. Young expressed hopes that 300 rooms of the property’s hotel portion will be opened this fall.
The renovated resort will feature an indoor water park that, similarly to its other facilities, will be aimed at attracting families with children. It was revealed that the former casino will be re-branded as Dolphin Village, yet another indication of its new owner’s willingness to distance it from its gambling past.
The resort’s casino portion will be occupied by a go-cart track. The renovated property will also have an arcade that Mr. Young pointed out would be a “world-class” one.
As mentioned above, the complex’s purchase price has remained undisclosed. Mr. Young acquired the former Atlantic Club from TJM Properties. And the latter company had bought the property from casino operator Caesars Entertainment for $13.5 million almost immediately after its closure.
If reopened, the Atlantic Club will become the fourth shuttered Boardwalk casino to be breathed new life into. The Showboat was reopened as a hotel last year, and real estate developer Glenn Straub is to open the shuttered Revel as a casino resort. What is more, Trump Taj Mahal, which closed doors last October, was recently purchased by Hard Rock International. Formerly owned by US President Donald Trump, that property, too, is planned to be reopened as a casino resort.