The Atlantic Club which is one of the shuttered casinos in Atlantic City has recently been contracted to be redeveloped into a huge indoor water park and hotel.
R&R Development Group made the announcement earlier this week that the Atlantic Club, which was formerly known as the ‘Atlantic City Hilton’ and prior to that the Golden Nugget will be restored as there are now plans to construct a 100,000-square foot indoor water park.
A similar proposal had been proposed by the company for a property at Bader Field but it had fallen through.
The latest project named Dolphin Village at Atlantic Club is expected to create over 3,000 jobs in the area according to the developers. R&R Development comprises a former casino executive Robert Reilert and an investor Ronald A. Young. According to Young, the company will invest nearly $135 million in the property which will include the opening of a hotel which is expected to have around 300 rooms by the end of the year. The construction of the water park could take between 12 and 24 months.
In a statement, Don Guardian Mayor Atlantic City said
I 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
R&R Development Group bought out the property from TJM Properties Inc. of Clearwater, Florida .TJM had shelled out $13.5 million in May 2014 to purchase the Atlantic Club from a subsidiary of Caesars Entertainment but the sale price of the latest deal is not known. R&R Development Group has stated that it intends to build a water park that is designed by leading water park developers as well as a full-scale family entertainment center. The developer also plans to restore the hotel complex with additional attractions such as restaurants and entertainment facilities.
The Atlantic Club was the first of the five casinos that have closed down in Atlantic City. It opened in December 1980 as the Golden Nugget, owned by Steve Wynn and subsequently changed hands several times before shutting down in 2014. Other shuttered casinos are also seeing a revival in recent times as Atlantic City stages a recovery.
The Showboat casino has been operating as a non-casino hotel while the Taj Mahal casino was recently sold to Hard Rock International and other investors. The shuttered Revel was purchased by Glenn Straub who is working hard to open the property this year after a major revamp.