Frustrated Developer Lists Former Atlantic Club Casino for Sale

The shuttered Atlantic Club Casino is up for sale again. One of the towers of the former casino has been listed for $55 million.

Philadelphia Business Journal reports that the Colosseo Development Group has grown frustrated with the permitting process to reopen the building and has decided to leave the Atlantic City market.

Developer Has Had It With AC Permitting Process

Colosseo Development Group purchased the former Atlantic Club Casino in 2019 for $25 million from Florida-based developer TJM Properties. TJM Properties acquired the property shortly before it closed in 2014.

Colosseo Development planned to reopen the building as a resort hotel and condominiums operated by Hilton.

President Rocco Sabastiani told PBJ that the permitting for the work with the city of Atlantic City was difficult to navigate, and the process dragged on for four years.

In February 2025, the state took control of the permitting for the project under the NJ Dept of Community Affairs, but that had its frustrations, with Collosseo being forced to start the permitting process over from the start.

The Property Has Been Split  For This Sale

Colosseo Development Group has divided the old Atlantic Club into three parts for this sale: the property's two hotel towers and the parking garage, each being sold separately, according to the Philadelphia Business Journal.

The smaller tower on the property, the 20-story, 330-room hotel tower with lobby and event space, is listed for $55 million.

The taller tower, which was planned to be condominiums, is also for sale, but no listing price has been given. The buyer of either of the former casino's towers would have the option of buying the property's parking garage.

The Property's History

In the late 1970s, Steve Wynn came to Atlantic City to buy a motel at 3400 Pacific Avenue along the Boardwalk and demolish it to make way for his Golden Nugget Hotel & Casino.

The casino opened on December 12, 1980. By 1983, it was the city's top-earning casino.

In 1987, Wynn sold the casino to Bally's, which renamed it Bally's Grand Hotel and Casino.

In 1996, Hilton Hotels acquired Bally's and changed the name to the Atlantic City Hilton.

In 2011, the Hilton ended its licensing agreement with Colony Capital, and the Hilton name was removed. The casino became briefly known as the ACH Casino Resort.

By 2012, the casino was rebranded as the Atlantic Club Casino Hotel.

In 2014, Caesars Entertainment sold the Atlantic Club to TJM Properties, which closed the casino.