One of Atlantic City’s most recognizable properties has hit the market with an $85 million asking price. The historic Steel Pier at 1000 Boardwalk is being marketed for sale as a major redevelopment opportunity. The five-acre oceanfront property sits directly across from the Hard Rock Hotel & Casino. Currently operating as an amusement park, Steel… Read more »
Plans are moving forward to partially convert Atlantic City’s Sheraton Hotel into senior housing. The proposed $100 million redevelopment would transform 130 of the hotel’s 502 rooms into apartments. Additionally, the project would modernize 252 existing hotel rooms. Some of those rooms have not received major updates in decades. The Sheraton connects directly to the… Read more »
A major portion of the former Atlantic City Race Course is moving toward redevelopment after years of sitting vacant. Wayne-based Patriot Equities acquired 110 acres of the former race course property in Hamilton Township. The site sits along Black Horse Pike in Mays Landing and neighbors another large development parcel. Notably, Amazon recently acquired 145… Read more »
Lenders are seeking to foreclose on a portion of the Showboat Resort in Atlantic City. A foreclosure complaint was filed against Showboat Properties LLC and owner Bart Blatstein on June 30. The case was filed in New Jersey Superior Court in Atlantic County. Computershare Trust Co. initiated the action on behalf of investors holding a… Read more »
Philadelphia developer Ira Lubert is part of an investment group seeking to acquire a prominent Atlantic City property. The group submitted an $18.2 million bid for the former Club Wyndham Skyline Tower. Lubert is a co-investor in Skyline Tower Acquisitions LLC, an entity formed to purchase the property. Additionally, local real estate professionals Matthew and… Read more »
Atlantic City has begun a major upgrade of Dolphin Field in the Venice Park neighborhood. The $1.33 million project will modernize the facility for local athletes and community programs. City officials recently broke ground on the improvement project. Once completed, the field will feature synthetic turf designed for football, soccer, and cheerleading activities. Several additional… Read more »
The Ilitch family is expanding its presence in the gaming industry. To support that growth, the family has launched a new division called Ilitch Gaming. The new company will oversee existing casino assets and future acquisitions. Additionally, it will manage the family’s growing hospitality portfolio. As part of the expansion, Ilitch Gaming plans to acquire… Read more »
Atlantic City is drawing renewed interest from both visitors and homebuyers. Thanks to its location and affordability, the city is becoming an increasingly attractive alternative to other Jersey Shore destinations. Located less than an hour from Philadelphia under normal traffic conditions, Atlantic City remains one of the most accessible beach destinations in the region. As… Read more »
A proposed $17.6 billion acquisition could significantly reshape Atlantic City’s casino industry. Although the transaction has not been finalized, discussions continue to move forward. If completed, Fertitta Entertainment would gain ownership of four of Atlantic City’s nine casinos. As a result, Golden Nugget, Caesars, Harrah’s, and Tropicana would operate under the same corporate umbrella. The… Read more »
Caesars Atlantic City is expanding its hospitality lineup with a new beachfront destination. This summer, Caesars Beach Club will debut along the Atlantic City shoreline. The new concept will operate on the beach directly next to the resort and casino. During the day, the venue will offer a relaxed coastal atmosphere. By night, the space… Read more »
