Atlantic Club Casino sold
The Atlantic Club Casino Hotel in Atlantic City, US, has been sold just four months after it was closed down and stripped for parts in a bankruptcy deal involving two larger rivals.
The new buyer is TJM Properties, a Florida development firm that is adding the Atlantic Club to a real estate portfolio that already includes another Atlantic City landmark, the old Claridge Casino Hotel.
TJM spokeswoman Sherry Amos said the company is studying development options for the 800-room hotel complex, but it will not reopen the Atlantic Club as a casino. “TJM is not planning a casino,” Amos said. “We are evaluating all the different options for the property.”
The Atlantic Club, one of Atlantic City’s smallest and most financially troubled casino hotels, was shut down in January following a failed deal by online global gambling giant PokerStars to buy it for $15m.
When PokerStars fell out of the picture, Caesars Entertainment and Tropicana Entertainment paid a combined $23.4m to acquire the Atlantic Club in a bankruptcy sale. Caesars took possession of the Boardwalk property and buildings for $15m, while Tropicana bought the Atlantic Club’s slot machines and table games for $8.4m.
Neither Caesars nor Tropicana had any interest in operating the Atlantic Club as a casino hotel in Atlantic City’s struggling gambling market, so the complex shut down, throwing 1,600 employees out of work.
SuzoHapp has received the first order for its Interactive Pro Snapshot LCD buttons from gaming machine manufacturer Aruze Gaming Group.
The Rank Group today announced a five per cent like-for-like revenue increase for the 20 weeks to May 17. Group brand revenues show that Grosvenor Casinos is up seven per cent, again on the like-for-like basis, while Mecca has risen three per cent.
Gaming Laboratories International has doubled the size of its operation in San Cugat, Barcelona, Spain - in response, it said, to the increasing demand for its services.
InterGame is the only monthly magazine covering the international coin-op amusements and gaming industry.Learn more
InterGaming is the leading monthly magazine covering the international land-based casino and gaming industry.Learn more
Published bimonthly, iNTERGAMINGi is the leading publication for the growing international online gaming industry.Learn more
An extensive annual buyers’ directory with more than 1,500 suppliers listed in the coin-op, casino and i-gaming sectors.Learn more
All the latest innovations for children in the indoor play, edutainment, outdoor adventure and simulation sectors.Learn more