Colosseo Atlantic City buys Atlantic Club Casino Hotel
TJM Properties of Florida has sold Atlantic Club Casino Hotel to New York City-based Colosseo Atlantic City, an investment and construction firm.
US.- New York City-based investment and construction firm Colosseo Atlantic City Inc has bought the former Atlantic Club Casino Hotel. The venue was the property of real estate company TJM Properties of Florida, which announced the sale on Tuesday.
“We’ve made every effort to find a buyer who could realise the potential of the property,” said Matt Bradley. He is one of the heads of development and operations for TJM who handled Atlantic Club Casino Hotel’s sale. “With their extensive experience in construction and redeveloping larger properties, Colosseo is the right company for the job.”
“We are looking forward to working in Atlantic City and restoring such a great property,” Colosseo’s principal, Rocco Sebastiani, said.
“We’re going to renovate the property. (We will) reopen it as an 800-room hotel with new retail and new food and beverage offerings,” he told AP.
TJM purchased the facility from an affiliate of Caesars Entertainment Corp in May 2014 for US$13.5 million.
