The shuttered Atlantic Club Casino Hotel has a new owner who plans to restore the property.
New York City-based investment and construction firm Colosseo Atlantic City Inc. bought the 800-room hotel on the famous boardwalk from TJM Properties for an undisclosed price, TJM said in a release Tuesday.
The complex was developed and originally owned by casino mogul Steve Wynn. TJM purchased the hotel after Caesars Entertainment closed it in 2014.
“We have made every effort to find a buyer who could realize the potential of the Atlantic Club Casino Hotel,” said Matt Bradley, one of the heads of development and operations for TJM involved in the sale.
In his own statement, Colosseo principal Rocco Sebastiani said the firm was “looking forward to working in Atlantic City, and restoring such a great property.”