A deal to sell the former Claridge Casino Hotel in Atlantic City to a Florida real estate firm was finalized on Monday.
TJM Atlantic City completed its purchase of the Claridge, which used to be its own casino but most recently operated as part of Bally's Atlantic City. It will operate as a stand-alone, non-casino hotel, but guests will be able to access Bally's through a second-floor entrance.
Neither TJM nor Caesars Entertainment, which owned the property before the sale, revealed the sale price. The sale was announced last October.
The hotel opened in 1929; guests included Marilyn Monroe, Al Capone, Princess Grace of Monaco, Frank Sinatra, and Nucky Johnson, the real-life political and rackets boss who was the inspiration for HBO's "Boardwalk Empire" series about prohibition-era Atlantic City.
"We are excited about this new opportunity for us in Atlantic City," said Sherry Amos, a spokeswoman for the company. "The distinct beauty and rich history of the Claridge Hotel, combined with our new plans for revitalization, will surely provide guests with a new popular destination to visit. Our dedication to customer service will set a new standard with attention to detail being paramount."
TJM Atlantic City is a subsidiary of the Florida firm TJM Properties, Inc., is a privately held real estate firm owned Terence McCarthy of St. Petersburg. TJM Atlantic City plans to position the property with the 1920's era theming.
Plans include new themed restaurants, a lobby bar and entertainment options the company plans to announce soon.
The Claridge used to operate as an independent casino hotel. It was the smallest gambling hall in Atlantic City, and was known for its widely advertised motto, "Smaller Is Friendlier."
It was sold to Bally's in 2001, and most recently operated as a non-casino portion of Bally's Atlantic City.
Amos said the new Claridge Hotel will target numerous market segments, including leisure travelers, families, group travel and the convention business. It will offer private limo service, shopping and gold packages, and a 600-seat Las Vegas style cabaret showroom.
The 500-room hotel will be closed for renovations until a grand opening on or before Memorial Day weekend.
It sits in front of Brighton Park on the famous Atlantic City Boardwalk.
Wayne Parry can be reached at http://twitter.com/WayneParryAC