The school received much criticism after it purchased, under then-President Herman Saatkamp’s leadership, the closed Showboat for $18 million in late 2014. After acquiring the resort, the school learned that it wouldn’t be able to open the property as a satellite campus with student housing due to a deed restriction.<\/span><\/p>\n<\/div>\nIt took more than a year to find a buyer, and led to Stockton parting ways with Saatkamp.<\/p>\n
Atlantic Club History<\/b><\/h2>\n
Steve Wynn opened Atlantic Club as the Golden Nugget in 1980. It became Bally’s Grand Hotel and Casino in 1987 after Wynn sold the property to Bally Manufacturing for $440 million.<\/p>\n
After Hilton Hotels acquired Bally’s, the Boardwalk resort became the Atlantic City Hilton. It would undergo further rebrands, the ACH Casino Resort in 2011, and finally, Atlantic Club in 2012, the later that endured until its closure.<\/p>\n
Should the Stockton deal go through, the university would obtain 20 acres of property, 11 of which are beachfront. It would reportedly keep the nine-story parking garage, but demolish the 23-story hotel tower to make way for new construction.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Stockton University board of trustees voted unanimously in favor of giving President Harvey Kesselman the authority to negotiate a deal for the college to acquire the shuttered Atlantic Club Casino Hotel in Atlantic City. The closed Boardwalk property has sat vacant since 2014. With the board’s decision, Kesselman can now begin working with TJM […]<\/p>\n","protected":false},"author":25,"featured_media":85560,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,10,18],"tags":[],"acf":[],"yoast_head":"\n
Stockton University Approves Atlantic Club Purchase, Demolition Expected<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n