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Atlantic Club Casino Hotel (1980-January 2014)
Of the five now-closed casinos, Atlantic Club Casino Hotel was the first to open and first to close. The casino has undergone a list of names and owners, including Golden Nugget, Bally’s, Hilton, ACH Casino Resort, and finally, the Atlantic Club.
At about 75,000 square feet, Atlantic Club was the smallest of the five casinos and the least flashy, earning the reputation for being a 'locals only' casino.
The hotel closed in January 2014, but by 2015 the property showed some promise with plans for an 81,000-square-foot waterpark gaining traction . Yet despite the Casino Reinvestment Development Authority approving the park in July 2015, the deal between the casino owner TJM Companies and waterpark developer Endeavor fell through by January 2016 when Endeavor failed to come up enough funds for the project.
Today, the Atlantic Club Casino Hotel is back on the market , with TJM Companies accepting offers.
Not all is lost in Atlantic City, however. Just days before the Trump Taj Mahal announcement, Borgata Hotel Casino & Spa announced it had inked a deal with MGM Resorts Luxury Destination. MGM officially acquired the Borgata and its 2,100 hotel rooms, 160,000 square feet of gaming space, retail, and restaurants for 0 million.
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Are online casinos rigged?
Gail 17 JANUARY Share TweetOne of most major concerns that many gamblers have when playing online or when they are playing at a brick and mortar casino, is whether they can trust the establishment to work in a fair manner. Of course, no one would play at these casinos if they feel that they are being exposed to some disadvantage due to a pre-determined strategy to minimize the odds of winning.
We know fairly well that over a long period of time, the house is bound to make a profit. But before we discuss this further, let’s give you a good overview on what to expect when you sit down to play at an online casino .
This would prevent Atlantic City casinos from closing in a state shutdown
Updated July 7, 2017 at 11:45 AM; Posted July 7, 2017 at 6:00 AM A view Atlantic City's skyline in 2010.A view Atlantic City's skyline in 2010.( John Munson | The Star-Ledger ) CommentBy Brent Johnson
bjohnson@njadvancemedia.com ,
NJ Advance Media for NJ.com
TRENTON -- It was a threat that hung over the recent state government shutdown: that Atlantic City's casinos might be forced to close if the impasse lasted longer than seven days.
But just days after the shutdown ended -- without the gambling halls shuttering -- a group of Democratic lawmakers from south Jersey are pushing a measure to make sure the state's casinos and racetracks never face that threat again.
The bill ( S3421 /A5126) would ensure that casinos and tracks keep their doors open indefinitely if a shutdown occurs.
That would amend the current law -- signed in the wake of the last shutdown , in 2006 -- that says casinos and tracks are required to stay open, but only for the first seven days of a shutdown.
New wrinkle in N.J. state shutdown: Could casinos soon close?
'Atlantic City is turning around and to allow the casinos to close now or at any time in the future would be destructive to the lives of the casino workers and their families and would create an economic riptide with negative consequences for the entire city and region,' said state Sen. Jim Whelan (D-Atlantic), a sponsor of the current law and one of four sponsors of the new measure.
The other sponsors include state Senate President Stephen Sweeney (D-Gloucester), state Sen. Jeff Van Drew (D-Cape May), and state Assemblyman Vincent Mazzeo (D-Atlantic), who introduced the bill in the middle of the shutdown Tuesday.
The bill would have to be approved by both the Senate and Assembly and then signed by Gov. Chris Christie before becoming law.
Even though the city has lost five casinos in recent years thanks partly to increasing competition from neighboring states, Atlantic City's seven casinos still employ about 50,000 workers and generate .3 million in state taxes each day. Plus, experts say the city is on the rebound lately after facing the threat of bankruptcy last year.
Atlantic City's then 12 casinos closed for three days during the 2006 shutdown. That cost the state million in casino tax revenue because gambling regulators and inspectors were not allowed to work. Plus, the city's casino revenues dropped 4.8 percent that July compared to the year before.
Two years later, Gov. Jon Corzine signed the law aiming to prevent casinos and tracks from closing should a shutdown happen again.
Whelan, however, said the seven-day provision is 'what we needed to do to get the bill through.'
In the middle of the shutdown, Sweeney said his fear was that his opponents were hoping to stretch the recent impasse to seven days to try and force his hand.
That never happened because Sweeney and Assembly Speaker Vincent Prieto (D-Hudson) struck a deal Monday night on the bill that was holding up the budget -- one that would reform Horizon Blue Cross Blue Shield of New Jersey.
Sources told NJ Advance Media that Christie would have sought to declare casino regulators as 'essential employees' to prevent casinos from closing had the shutdown dragged on. The sources requested anonymity to speak candidly about the issue.
But Sweeney said Thursday this new measure is necessary because 'even the threat of a casino shutdown' would be 'bad for business, bad for the city, and bad for New Jersey.'
Mazzeo added: 'My hope is that this law will never be needed, but the government should have a backup plan just in case.'
Brent Johnson may be reached at bjohnson@njadvancemedia.com . Follow him on Twitter @johnsb01 . Find NJ.com Politics on Facebook.
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