UPDATE: Atlantic Club Pays Tax Lien, Avoids Foreclosure

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The owner of the Atlantic Club, facing a foreclosure filing, has paid off back-dated taxes and interest from 2017, according to one official familiar with the court proceeding. The tax liens on the aging former casino at the southern end of Atlantic City’s Boardwalk were worth almost $1 million.

(Route 40 previously reported the foreclosure filing based on property documents alone. After publishing that story, an official from the company that held the Atlantic Club’s tax lien contacted Route 40 to say the lien was paid with interest. This person requested anonymity because of their involvement in other foreclosure filings.)

Officials for the Atlantic Club’s owner, Clearwater, FL-based TJM Properties, did not respond to requests for comment.

The property, built in 1980 and opened as the Golden Nugget, has been empty since closing in 2014. That year, four casinos closed in Atlantic City. But while the fate of the other three is now known (two have reopened, one is set for demolition later this year) the future of the Atlantic Club is unclear. Attempts to sell the property have collapsed and it has fallen into a state of disrepair.

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Tax sale certificates for properties owned by TJM on a block behind the Atlantic Club (former parking lot space) were also sold this spring. It was not clear whether those were also paid. TJM, which also owns The Claridge hotel in Atlantic City, earlier this year sold two beach-block lots that were close to The Atlantic Club for $150,000.

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