Not even the third time was the charm for the former Atlantic Club casino in Atlantic City, N.J., which on Thursday saw the third attempt to sell it fall through in as many years, the Associated Press reported. The latest involved a bid by Stockton University to buy the casino property as part of its new Atlantic City campus. But Stockton wanted the parking garage and the land; the casino and hotel buildings would have been razed. TJM Properties of St. Petersburg, Fla., pronounced the deal dead Thursday. No purchase price was ever revealed. When Stockton agreed to buy the complex in August, it said a purchase price would be made public at the deal’s closing. The Atlantic Club closed on Jan. 13, 2014, the first of four Atlantic City casinos to go bust that year. It was jointly bought by Tropicana Entertainment and Caesars Entertainment, with Caesars maintaining control of the buildings and property. Caesars sold it to TJM for $13.5 million, with a deed restriction stating it could not be used as a casino. TJM on Thursday said it is in talks with Caesars to try to have that restriction removed, presumably making the property more marketable in a recovering casino resort.
