After five years, the old Atlantic Club is back on the negotiation block! We know it might seem like déjà vu to you, but this looks much more promising than the stalled talks with Stockton University in August.
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With that said, New York-based real estate firm, Advanced Consulting is looking to purchase the property. This is a very exciting story that could change the whole landscape of Atlantic City!
Past Present and Future
First, the Atlantic Club in AC opened its doors in December 1980. Back in those days, it was the Golden Nugget Hotel and Casino. Then after 1987, it was Bally’s, Hilton, ACH Casino Resort. And then in 2012, it opened up as the Atlantic Club. However, it soon fell into bankruptcy and closed its doors on January 13th, 2014.
Since then, many have shown interest in purchasing the property, although nothing manifested from those negotiations. As of now, the building still stands vacant. Although as we mentioned above, all that may change very soon! According to Gem Lake, CEO of Advanced Consulting. Work is definitely ongoing. “At this point, we’re heavy in negotiations.”
Unfortunately, at this stage, it’s kind of anybody’s guess as to what will happen next. However, Atlantic City continues to boom and people are flocking to America’s Favorite Playground! Not to mention, businesses are flourishing in AC, and there’s a major attraction to the city. And the best part of it all, there’s room for growth here and lots of vacant lots and buildings in need of new life. Atlantic Club is a prime example of a great opportunity waiting to happen!
So if the deal finally goes through, then it might take a little more creativity to win over visitors than opening another hotel and resort. Especially, since everybody’s interest is in sports betting and online casino. With that said, if Advanced Consulting seals the deal, then it’s likely they’re going to bring something unique to the city, we shall see!