It looks like Stockton University won’t be buying the Atlantic Club after all. In August 2018, the University’s Board of Trustees decided to pursue the purchase of the old Atlantic Club for use as another campus for their Galloway-based university. Unfortunately, this deal appears to have fallen apart.
Stockton University/Atlantic Club Deal – What Happened?
When a deal for a water park fell through last year, the owners of the former Atlantic Club casino put the property back on the market. A few weeks ago, they announced that a deal was in the works for Stockton University to purchase the property. Located just a couple of blocks from their newly opened AC campus, Stockton University thought that the Atlantic Club property would make a great fit. This especially seemed fitting as their new campus almost filled to capacity before they even opened their doors last month. Transforming the former casino into boarding and classrooms for their students made sense for the university. Alas, negotiations stalled and, eventually, broke down altogether.
TJM Properties, the owners of the former Atlantic Club casino, stated in a press release that they tried very hard to work a deal with Stockton University over the past few weeks. Unfortunately, it ultimately came down to the University asking for “far more time than (TJM) were willing to provide them without assurances”. TJM Properties said that they will now focus on other entities interested in purchasing the property. So, stay tuned to find out what’s up next for this beleaguered piece of Atlantic City land.
The success of Stockton University’s new AC campus spurred on the Board of Trustees’ ideas of further expansion in the Atlantic City area. They continue to look for other properties to make their own. Where do you think Stockton University should focus their efforts next? Sound off in the comments below.