TJM sells Atlantic Club Casino Hotel to New York investment firm

The shuttered Atlantic Club Casino Hotel in Atlantic City has recently sold to Colosseo Atlantic City Inc., a New York City-based investment and construction firm, according to TJM Properties.

The 800-room hotel is one of two TJM-owned properties located on the Shore town’s boardwalk. It was closed in 2014 by Caesars Entertainment and later purchased by TJM,

“We have made every effort to find a buyer who could realize the potential of The Atlantic Club Casino Hotel,” Matt Bradley, a head of development and operations for TJM who handled the sale, said. “We are confident that with their extensive experience in construction and redeveloping larger properties, Colosseo is the right company for the job.”

Financial terms of the sale were not disclosed, but Colosseo principal Rocco Sebastiani said the company is looking forward to restoring the property.