Atlantic Club

The Atlantic Club Casino Hotel property has stood empty since 2004. Stockton University’s Board of Trustees will meet Wednesday in closed session to review and discuss concerns related to the authorization and execution of sale of the former Atlantic Club Casino Hotel, according to the board’s special meeting agenda. Wednesday, August 8

ATLANTIC CITY — The owner of the former Atlantic Club Casino Hotel canceled a notice to sell the shuttered property to a Philadelphia-based company.

The Feb. 19 filing voids a notice of settlement submitted last month between Florida-based TJM Properties and buyer Jeffrey Smolinsky of North American Acquisitions, according to Atlantic County real estate records.

Neither responded to a request for comment, but TJM Spokesman Matt Bradley previously denied the sale to the Press of Atlantic City.

North American Acquisitions’ LinkedIn profile says the company is a Philadelphia-based investment management firm and lists Smolinsky as a senior partner.

“We have only spoken to him a handful of times. It appeared he is the principal, and we have not heard from him in a few weeks now,” Bradley said in an email to the Press last month.

The Atlantic Club closed in January 2014 and was purchased four months later by TJM for $13.5 million from an affiliate of Caesars Entertainment Corp.

TJM has come close to selling the property on several occasions.

In 2017, a Ventnor development group wanted to buy the casino and turn it into a water park, but the plans died.

Another deal collapsed a year prior when Pennsylvania-based Endeavor Property could not secure funding to buy the property.

Stockton University was in talks to purchase the property, as well. The school was interested in the nine-level parking garage, but wanted the casino and hotel property demolished. The deal fell through last September.

Contact: 609-272-7258 azoppo@pressofac.com Twitter @AvalonZoppo

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