by Lisa A. Grimaldi | May 30, 2014
TJM Properties has purchased the Atlantic Club Casino Hotel, with plans to operate the 800-room property as a nongambling facility, according to press reports. TJM bought The Atlantic Club and the Claridge from Caesars Entertainment, which jointly bought the bankrupt Atlantic Club last December with Tropicana Entertainment. The two gaming firms divided the assets, with Tropicana getting the gambling equipment and customer lists, and Caesars acquiring the building and the land; the property was closed down in January. This is TJM's second acquisition this year of a former Atlantic City casino that the company plans to run as a nongambling facility. In February, TJM bought the 500-room hotel portion of the former Claridge Hotel Casino, which was part of the Bally's Atlantic City casino.