What Is The Atlantic Club’s Owner Up To?

The Atlantic Club is still up for sale and its owners just modified a $10 million mortgage on their other Atlantic City Boardwalk property, The Claridge. These things are not related, Dale Schooley, director of acquisitions for the owners, TJM, told me yesterday. TJM paid cash for the Atlantic Club, Schooley added.

“We’re going to continue to market the property…the Atlantic Club. The Claridge is not for sale,” Schooley said.

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UPDATE: Atlantic Club Pays Tax Lien, Avoids Foreclosure

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.

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