The Atlantic Club Casino, which has not been operational since it was closed down by Caesars Entertainment, has a new owner that is planning to transform the property into a family-friendly waterpark.
R&R Development Group confirmed the purchase of what is going to become “Dolphin Village” on March 13. No information about the value of the deal has been disclosed.
The complex will feature 300 hotel rooms, an indoor water park, a go-cart track and a “world-class” arcade. According to the investors, the facility is not going to offer any form of gambling. It is estimated that the new infrastructure will cost around $135 million.
Atlantic City Mayor Don Guardian has expressed support for the project.
There has been little growth in Atlantic City’s hospitality industry in recent years. Five casinos have shut down since 2014, of which the ex-Showboat casino has remained only a hotel, and the Trump Taj Mahal is being converted into a new Hard Rock International casino.