ATLANTIC CITY - Bally's Atlantic City has revealed how much a buyer paid for the former Claridge casino hotel in Atlantic City.
In a filing with state casino regulators made public Monday, Bally's says TJM Properties paid $12.5 million for the Claridge, which the Florida real estate firm plans to operate as a stand-alone, non-gambling hotel.
Neither side would reveal the purchase price when the deal closed in February.
When it operated as a casino, the Claridge was the smallest gambling hall in Atlantic City. It is now taking reservations for stays beginning Memorial Day weekend.
The Claridge opened in 1929. Its guests included Marilyn Monroe, Al Capone, Princess Grace of Monaco, Frank Sinatra, and Nucky Johnson, the real-life political and rackets boss who was the inspiration for HBO's "Boardwalk Empire" series about prohibition-era Atlantic City.
TJM Properties is a privately held real estate firm owned Terence McCarthy of St. Petersburg. TJM Atlantic City plans to position the property with the 1920's era theming.
Plans include new themed restaurants, a lobby bar and entertainment options the company plans to announce soon.
The Claridge used to operate as an independent casino hotel. It was known for its widely advertised motto, "Smaller Is Friendlier."
It was sold to Bally's in 2001, and most recently operated as a non-casino portion of Bally's Atlantic City.
The 500-room hotel is currently closed for renovations. It sits in front of Brighton Park on the famous Atlantic City Boardwalk.