After reports surfaced of Bruce Deifik selling Ocean Resort Casino to NY-based Luxor Capital Group, another buyer interested in the former Atlantic Club surfaced. However, the current property owner denies that a transaction is due to take place. With this in mind, it’s not a common practice in this industry to reveal your sources (buyers) until it’s required. Which, this is exactly how Deifik played it. Even though he admitted to selling Ocean Resort Casino, he didn’t share who the buyers were. As a result, many people doubted his claims; now those same people are silent on the topic.
Short Lived Secret
First, notices of settlements only get filed when the details of a property sale are final. Which, is what happened here in this case. In fact, sources reveal that on January 15th, Atlantic Club owner TJM Properties filed the public notice. According to the document, Jeffrey Smolinsky on behalf of North American Acquisitions is the new property buyer.
Despite the facts, TJM still denies selling the legendary Boardwalk property. Even a spokesperson from the company said, “We spoke with Mr. Smolinsky several times. Unfortunately, we haven’t heard back from him in many weeks now.” At this point, all we can do now is wait for this to proceed and imagine what it could be. After all, Atlantic Club has been out of service since 2014, and everyone knows, now is the best time to invest in AC!
All in all, there’s been several proposals over the past few years, and they all fell through. Up until now, we’ve heard several great ideas, but none of them has happened. Luckily, AC is booming right now, and there’s a lot of buyers out there looking to capitalize on that. Taking this into consideration, it’s likely we’ll see new life at the Atlantic Club in months ahead.