Posted on: June 3, 2026, 01:43h.
Last updated on: June 3, 2026, 01:43h.
- The asking price for the Atlantic Club in Atlantic City is now $50 million
- The shuttered Boardwalk casino resort has been on the market for almost a year
- A 74-unit residential community is being planned next to the Atlantic Club
The long-shuttered Atlantic Club has been on the market for nearly a year. The owners of the casino resort built by Steve Wynn have cut the asking price for the Atlantic City property by $5 million.
Casino.org reported in July 2025 that New York-based real estate firm Colosseo Development Group had put the Atlantic Club on the market for $55 million. The asking price was recently lowered to $50 million, the same price Hard Rock International paid for the closed Trump Taj Mahal in 2017.
Colosseo bought the Atlantic Club in 2019 for $25 million. The casino resort, which closed on Jan. 13, 2014, was much worse than Colosseo anticipated when it acquired the property.
Colosseo has since invested in bringing the building up to code, but the company has folded on its earlier plans to redevelop the Atlantic Club into a nongaming resort.
AC Townhouses
In plans filed with the Casino Reinvestment Development Authority (CRDA), Colosseo has proposed constructing 74 single-family attached residential dwelling units on 76 real estate lots. The townhomes would be built on the property located at Atlantic, Montpelier, Pacific, Sovereign, and Boston Avenues.
The 3.7-acre property is a block northeast of the Atlantic Club across Pacific Ave. It’s currently a paved parking lot and home to a Walgreens. The site came with the Atlantic Club sale. Renderings of the townhouse community show the pharmacy will remain.
On April 21, the CRDA signed off on Colosseo’s site plan.
The grant of the application shall be expressly conditioned upon the applicant satisfying all applicable requirements of the City of Atlantic City Land Use Ordinances or other City Ordinances, and the requirements of any City Agency, Board or Authority. Further, the approval is conditioned upon the applicant obtaining any and all other necessary governmental approvals, and compliance with all Federal, State and Local laws,” the CRDA wrote in approving the development application.
The CRDA oversees land-use planning within the Atlantic City Tourism District, in which the property in question lies.
Atlantic Club Seeks Buyers
Will Colosseo find a suitor for Atlantic Club?
Atlantic City will be pressured in the coming years by three casinos coming to New York City. There’s also the expectation that if Tilman Fertitta’s acquisition of Caesars Entertainment goes through, one of the new company’s four casinos in Atlantic City would close or be forced to be sold by gaming regulators due to market saturation concerns.
If Fertitta were to close or sell one of the casinos, most likely Golden Nugget or Caesars, such a property would be more attractive than the rundown Atlantic Club that has sat vacant for over a dozen years.
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