New Atlantic Club Casino owner ready to transform Boardwalk casino into family-friendly destination.
When one thinks of a casino in Atlantic City, the Boardwalk comes to mind. Players can enjoy a little gambling, dining, drinks and entertainment. One does not necessarily think of family-friendly fun. However, a real estate developer is currently in the market to purchase the former Atlantic City Boardwalk casino and has plans to change the venue into a resort destination for families, instead of the normal casino facility.
R&R Development Group
The real estate developer in the works to purchase the former casino is the R & R Development Group. The price being paid has yet to be disclosed but one could imagine it is a pretty penny. The property first began its foray in Atlantic City as the Golden Nugget in 1980 and became a major contributor to the gambling industry of Atlantic City once it took on the name as the Atlantic City Boardwalk Casino. The casino played a vital role in helping Atlantic City become a quality gambling destination in the United States.
In the past, the property was owned by Steve Wynn, a casino mogul, with such celebrities as Dean Martin, Frank Sinatra and more visiting the property over the years. After the glory days were over and Atlantic City began to see a downturn, the Boardwalk casino would be one of the four to close in 2014.
The new owner, Ronald Young, and his real estate development firm have plans to invest as much as $135 million to renovate the former casino and turn it into a non-gambling destination. Young is actually hoping to provide guests with hotel stays in the fall by opening up the property’s 300 hotel rooms.
The inside of the former casino will be completely different as Young has plans to transform the property with an indoor water park. Gone are the days when players hit the casino floor and enjoy blackjack, craps and roulette. Now, entire families will be able to take part in water activities via an indoor water park. The goal is to attract not only adults but also children. The property will be known as Dolphin Village with the hopes of distancing from the former casino reputation.
On top of the water park activities, the property will also feature a go-cart track and arcade. Young has stated that the arcade will be world-class, so we should be able to expect only the best games and attractions. The new venue will actually fit in well with the Boardwalk entertainment theme but it is odd to consider that the former casino will now be full of children sliding down water slides and playing video games.
Young was able to acquire the former casino from TJM Properties. The company had purchased the property from Caesars Entertainment soon after it was shut down for $13.5 million. It will be interesting to see if the purchase price is disclosed and just how much the real estate developer actually paid for the property.
If the former casino does reopen as the family-friendly resort destination, it will mark the fourth time that a former Boardwalk gaming venue has been changed into something new. In 2016, the Showboat casino reopened as a hotel and Glenn Straub is currently working to see the former Revel Casino reopen as TEN, a new casino resort. The Trump Taj Mahal was shut down last October and has now been purchased by the Hard Rock International company and will be reopened as a casino resort sometime in the future.