TJM Properties, a Florida-based company, purchased a former Atlantic City casino Thursday, according to an Associated Press report, with plans to run it as a non-gaming facility.The Atlantic Club Casino Hotel had closed in January, and TJM paid an undisclosed amount for the casino and 800-room hotel. This was the second time this year that TJM has invested in Atlantic City, following the purchase of a 500-room hotel section of the former Claridge Hotel Casino in February. It will also convert that hotel to a non-gambling facility.
“TJM is attracted to the Atlantic City market, and they believe that non-casino amenities have great value in the future of Atlantic City,” company spokeswoman Sherry Amos told the Associated Press.
TJM purchased both properties from Caesars Entertainment, which along with Tropicana Entertainment bought the Atlantic Club out of bankruptcy last year. Amos told the AP that TJM plans to finish its redevelopment of the Claridge property before turning to the Atlantic Club site.
ALSO ON NJBIZ:
Affordable Care Act prompts hospital’s $100 million campaign
Developers mark milestone at Newark’s RockPlaza Lofts
Ingerman breaks ground on Burlington City apartment project