Endeavor Property Group to buy the closed Atlantic Club Casino Hotel

A Pennsylvania real estate company that specializes in residential projects and senior-citizen housing has agreed to buy the shuttered Atlantic Club Casino Hotel.

The purchase by an affiliate of Endeavor Property Group continues a revolving door of ownership at the Atlantic Club since the former Boardwalk casino closed Jan. 13, 2014, amid Atlantic City’s economic crisis.

Endeavor, of Devon, Pa., is buying the complex from TJM Properties for an undisclosed price. Once the sale closes, a deed will be filed giving the price.

FREE DAILY NEWSLETTER

Like this story? Subscribe to IHIF!

The hospitality industry turns to IHIF International Hotel Investment News as the must-read source for investment and development coverage worldwide. Sign up today to get inside the deal with the latest transactions, openings, financing, and more delivered to your inbox and read on the go.

Atlantic Club is under a deed restriction barring it from being used as a casino again. Endeavor’s portfolio includes eight mixed-use residential projects, including senior-citizen housing, totaling more than 1,500 units in the suburbs of Philadelphia.

One tourism analyst at The Richard Stockton College of New Jersey believes the Atlantic Club could be transformed into a residential development catering to senior citizens or people looking for a seashore vacation retreat.

Suggested Articles

Celebrating the hotel company’s 45th year and his 80th on the planet, the owner/operator—and philanthropist—embodies a "hospitality heart."

The Hyatt Centric Reykjavík will not only be the first Hyatt-branded hotel in Iceland, but will be the company's debut the Nordic region as a whole.

The new Radisson Blu Resort Cam Ranh in Khanh Hoa province has 292 rooms, suites and pool villas.