ATLANTIC CITY — The former Trump World’s Fair Casino site on Thursday will begin its transformation into a retail and restaurant development.

Luxury home builder Bruce E. Toll’s firm, BET Investments, plans to break ground on the 16,000-square-foot development adjacent to Boardwalk Hall’s West Hall at 1 p.m.

Plans call for transforming the site into a retail development; restaurants have also been discussed as a possibility. On Monday, through a spokesperson for the Casino Reinvestment Development Authority, BET declined to announce any tenants or types of tenants who will occupy the site.

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The development is planned on a parcel that measures 3/4 acre, but BET Investments, of Horsham, Pa., owns the entire 2.5-acre site that was formerly home to the Playboy Casino and the Trump World’s Fair Casino.

Toll purchased the L-shaped site for $25 million at a bankruptcy auction in 2005. He initially planned to build luxury condominiums on the rest of the lot, but the project never gained momentum as the real estate market declined.

The site was first home to the Playboy Casino in 1981. The building then became the Atlantis casino hotel and then the Trump Regency Hotel before it closed as the Trump World’s Fair Casino in 1999. The site has been vacant since the World’s Fair was demolished shortly after its closing.

T.N. Ward Company of Atlantic City and Ardmore, Pa. will be the general contractor on the project, according to a news release.

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