Historic Casino Established by Steve Wynn on the Atlantic City Strip Goes Back on the Market
The Atlantic Club, once a bustling casino in Atlantic City, New Jersey, has been closed and largely vacant since 2014. Originally known as the Golden Nugget, it opened its doors on December 12, 1980, and quickly rose to become the top gaming revenue casino in Atlantic City in 1983.
In 1987, the Golden Nugget Atlantic City was sold to Bally's for $440 million by Wynn's Golden Nugget Companies. The property, designed by Steve Wynn, carries a "legendary provenance" in the gaming industry.
However, after several ownership changes and revitalization plans, the casino was shuttered on January 13, 2014, marking the beginning of its long hiatus. The sale of its gaming assets followed in 2013, with Tropicana acquiring the slots and table games. The non-gaming assets, including the main building, were acquired by Caesar's Entertainment.
Since then, the property has remained largely undeveloped. Videos from 2025 show the site in a state of preservation but with no active construction or repurposing underway. The sale of the property is currently being handled by the New York-based Colosseo Development Group, who acquired it in 2019 for $25 million from Florida-based TJM Properties.
Despite numerous plans for redevelopment, including an indoor water park, a convention space, an arcade, and student housing for Stockton University, no concrete redevelopment projects or sales for the former Atlantic Club casino property have been announced as of mid-2025. The site appears to be in limbo, with no confirmed buyers or development proposals widely reported.
As Atlantic City continues to see the redevelopment of other properties, the fate of the Atlantic Club remains uncertain. The property, standing as a landmark above the boardwalk, awaits a future buyer or developer to initiate any transformation.
- In 1980, Steve Wynn, a significant figure in casino culture, designed the Golden Nugget, which would later be sold to Bally's in 1987.
- Before its closure in 2014, the once-bustling Atlantic Club, initially known as the Golden Nugget, held the title of top gaming revenue casino in Atlantic City, New Jersey.
- Wynn's Golden Nugget Companies sold the Atlantic Club (originally the Golden Nugget) to Bally's for $440 million in 1987, and the property, carrying a "legendary provenance" in the gaming industry, was designed by Steve Wynn.
- The Hard Rock Hotel & Casino Atlantic City now occupies the site where the Atlantic Club once stood, following its sale in 2016.
- The Colosseo Development Group, based in New York, acquired the former Atlantic Club casino property in 2019 for $25 million from Florida-based TJM Properties, with plans for the property still undecided as of mid-2025.
- The finance and investing world closely follows the real-estate and casino-gambling landscape, with casino personalities like Steve Wynn shaping the casino-and-gambling industry in cities like Las Vegas.
- The Atlantic Club, despite numerous redevelopment plans, remains largely unchanged since its closure in 2014, with no confirmed buyers or development proposals widely reported as of mid-2025.
- As property redevelopment continues in Atlantic City, the future of the Atlantic Club property, a notable landmark above the boardwalk, remains uncertain, awaiting a buyer or developer who will transform the site.
