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Notice of settlement submitted to Atlantic Club casino | Casinos and tourism



ATLANTIC CITY – The notice of settlement is filed regarding the former Atlantic Club Casino Hotel, but the owner of the closed property refuses it has been sale.

The notice, filed January 15, lists the seller as Florida-based TJM Properties and the buyer as Jeffrey Smolinsky, on behalf of North American acquisitions.

A TJM spokesman told the press that there was no active contract, and he was unsure why it was filed. Smolinsky did not return requests for comment.

"We've just talked to him a handful of times. It turned out he is the principal, and we haven't heard from him in a few weeks now," said TJM spokesman Matt Bradley.

No sales price was listed in the Notice Confirmation, a legal document stating that a property is being sold.

A profile for North American procurement on the community LinkedIn says the company is a Philadelphia-based investment management company specializing in the sale of private businesses, mainly with revenues between $ $ 1 billion and $ 100 billion It lists Smolinsky as a senior partner.

The Atlantic Club, which closed in January 2014, has almost been sold on several occasions, since TJM bought it for $ 13.5 million from a affiliate Caesars Entertainment Corp. Last, in November, New York-based real estate company Advanced Consulting Inc. had said it was negotiating to buy the property and turn it into a non- gambling hotel and resort.

TJM announced in September at Stockton University w You must not purchase the property after the negotiations failed.

Stockton had announced plans in August to buy the Atlantic Club just before the opening of its $ 176 million Atlantic City campus.

The university said it was interested in parking at nine levels and the country, but wanted to demolish the casino and the hotel.

In October 2017, the company said it had a contract with a named group and waited for the "hard money" for the deal. [19659002] In April 2017, a deal from a Ventnor development group fell to buy the closed casino and transform it as a water park and family holiday called Dolphin Village at the Atlantic Club. It was the second time plans to bring a water park to the place of death.

In January 2016, another deal collapsed when TJM asked the Pennsylvania firm Endeavor Property Group to close the casino. Endeavor said it needed more time to secure funding.

TJM also owns The Claridge – a Radisson hotel in the city.


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