After nearly six years of ownership, the developer behind plans to revitalize the former Atlantic Club Casino Hotel in Atlantic City has divided the site and listed both parcels for sale. The oceanfront property at 3400 Pacific Ave. has remained vacant since the 800-room casino closed in 2014.

Colosseo Development, led by Sebastiani, bought the property for $25 million in 2019 and proposed converting it into a Hilton-operated hotel and condominiums. However, after four years of trying to secure permits from the city, Sebastiani said the process became too challenging.

In February, the New Jersey Department of Community Affairs assumed control of permitting from the city, requiring the developer to restart the process — a move Sebastiani says would further delay progress.

*Article courtesy of Philadelphia Business Journal

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