Atlantic City’s famous boardwalk, long associated with entertainment and excitement, enters a new phase with the sale of the former Atlantic Club Casino. This closed property, priced at $55 million, poses both challenges and opportunities for the evolving landscape of the area. Once a vibrant part of Jersey Shore nightlife, the casino’s closure in 2014 marked a troubling time for Atlantic City. With redevelopment efforts facing hurdles, the Atlantic Club is back on the market, attracting investors hopeful about the region’s potential. Its prime location and substantial size make it a crucial asset for the future of this historic locale.
The Challenges of Revitalization
The former Atlantic Club Casino is currently listed for $55 million as of mid-June 2025, but its ambitious redevelopment plans have met with significant obstacles, leaving its prospects uncertain. After the casino closed in 2014 due to various issues in the local gaming industry, it was bought by Colosseo Atlantic City Inc. in 2019, which aimed to convert the dual-towered structure into a “condo-tel” with plans for 2026 completion. However, those plans have deteriorated, leading to its current sale.
The Struggles of Physical Casinos
The Atlantic Club’s closure exemplifies broader challenges facing brick-and-mortar casinos, particularly with the rise of online gambling. These physical venues incur high operational costs, including upkeep, staffing, and regulatory compliance, as seen with the Atlantic Club’s stalled condo-tel initiative. The property requires a range of significant repairs while delays in obtaining permits from New Jersey’s regulatory bodies have further hindered redevelopment efforts.
Redevelopment Challenges
Refreshing the Atlantic Club has proven to be a complicated task. Colosseo Development envisioned transforming one tower into condominiums and the other into a hotel, alongside retail and event spaces. However, extensive renovations are necessary, such as recladding the building with watertight glass curtain walls, addressing years of water damage, mold remediation, and upgrades to safety systems. Permitting delays, particularly after state officials took control of the process in early 2025 due to compliance issues, have further stymied progress, frustrating local leaders.
Optimistic Outlook for Atlantic City
City officials maintain a positive perspective, highlighting their openness to new development. In 2023, Atlantic City casinos generated $467 million in gross gaming tax revenue, reflecting a nearly 12% increase from the industry’s previous peak in 2006. Although the closure of the Atlantic Club positioned the city in a challenging phase, there have been past considerations to repurpose the site for local educational expansion, though those plans ultimately did not materialize.
The Future of the Atlantic Club
Now available on the real estate platform Crexi for $55 million, the Atlantic Club stands as an enticing opportunity for potential developers. Its expansive size, prime location on the boardwalk, and historical importance make it a valuable prospect for those willing to navigate regulatory complexities. As Atlantic City embarks on a journey of reinvention beyond its gaming origins, the next owner of the Atlantic Club could play a pivotal role in shaping the city’s future.
