Deal to turn closed A.C. casino into water park evaporates

The defunct Atlantic Club casino hotel in Atlantic City is back on the market after a plan to redevelop the property with a water park and other attractions fell through.

A deal to turn the defunct Atlantic Club casino hotel in Atlantic City into a "world class" indoor water park has fallen through, the Atlantic City Press reported.

A development group based in Ventnor, N.J., had announced a deal to buy the property and turn it into a water park with the help of the company that created the Great Wolf Lodge water theme parks elsewhere.

But the announcement was premature, the owners of the property, TMJ Properties, told the Press, and the group was unable to secure financing.

TMJ told the Press that there were a number of other interested parties for the property. An earlier plan by a different group to turn the property into a water park also fell through.

The Atlantic Club, formerly the Atlantic City Hilton and, originally, the Golden Nugget, was the first of five casinos to close in recent years, shutting its doors in January 2014 as loyal customers carted off potted plants and discounted cheesecakes as mementos.

Of those five, one, Showboat, has reopened as a noncasino property, and another, the former Trump Taj Mahal, was bought by Hard Rock International, which plans a 2018 re-opening. Trump Plaza remains empty, and the former Revel is basically being used by its owner, Glenn Straub, as his private beach house.