The Atlantic Club -- an 800-room former gaming resort in Atlantic City -- is up for sale again. The property's developer, Endeavor AC, was unable to generate funds to realize its plan to transform the property into a family-friendly entertainment complex with an 81,000-square-foot water park, an 800-room nongaming hotel and a family entertainment center.
The Boardwalk property was the former Atlantic City Hilton Casino until 2012, when it was rebranded as the Atlantic Club Casino Hotel. It was shuttered in January 2014 and has been vacant ever since.
"Unfortunately, Endeavor was not able to generate the additional deposit funds needed," said current owner Terence J. McCarthy, president of TJM Properties, in a statement. He affirmed that several other companies had expressed an interest in the property, but that TJM had deflected these inquiries in deference to its contract with Endeavor. "Both our firms have invested substantial time and money in the planning process," McCarthy said. "We felt that the project was good for Atlantic City. Endeavor has laid a foundation that has generated interest in government funding that may enhance the value of the property, and we are disappointed that they were unable to continue."