Atlantic City’s casino industry is not exactly thriving, but there is indication that one of the vacant properties will soon be repurposed and reopened. According to the Atlantic City’s mayor’s office, a former casino property will be turned into a massive indoor waterpark and hotel.
Ventnor, New Jersey-based R&R Development Group LLC announced today that it had purchased the Atlantic Club, a former casino situated on the Atlantic City boardwalk. The property was sold to R&R by a Clearwater, Florida company by the name of TJM Properties Inc.
R&R Development announced that the massive property will be renovated, repurposed, and turned into a more than 100,000 square-foot indoor waterpark and family entertainment center, according to NJ.com. Though obviously this is a money-making endeavor on the part of R&R Development, their hope is to provide children with a place to go while their parents gamble. Even if you have never been to Atlantic City, it goes without saying that there are not too many kid-friendly places.
This is not the first time R&R has tried to pursue such an endeavor, but previous plans had fallen through. In the words of Atlantic City mayor Don Guardian, the city “…met with Ronny Young more than a year ago, as he brought investors together for a possible major waterpark and hotel facility at Bader Field. Unfortunately, that deal did not consummate at the time. However, I believe that this new location and timing are much better to assure success.”
Though a sale price for the Atlantic Club has not yet been disclosed, the property was bought in 2014 by TJM for $13.5 million.
The Atlantic Club opened all the way back in 1980 and, at the time, was known as the Golden Nugget casino. When the site first opened its doors, it was hugely successful and one of the marquis properties owned by casino mogul Steve Wynn. In its earliest years, Golden Nugget quickly became Atlantic City’s highest-earning casino and the site gamblers came to the city to visit.
As time passed, the Golden Nugget changed hands a bunch of times and was known under a few different names. In total, the location was known by at least 5 different names before ultimately closing its doors in early 2014. Since then, the site has remained closed. There is no timeline with regard to when the proposed waterpark will be open, but the plan is to accelerate this process in hopes of being operational by winter of 2018.