The ship would have a casino and the cabins would function as a hotel. In 1986, two theatrical producers, who had recently bought Sardi’s restaurant in New York, announced plans to develop a hotel-casino in the marina district called Sardi’s Broadway Casino Hotel. Robert Maheu, a former aide to Howard Hughes, and Grady Sanders announced plans for a hotel-casino in August 1978, called the Royale Atlantic Hotel. In 1978, an investor group purchased the Ritz-Carlton Atlantic City intending to convert it to a hotel and casino. Prime Motor Inns had announced in January 1980 that it had approval from lenders for financing for a hotel-casino. However, the casino was never built, and after having financial problems, the company lost ownership of the hotel-casino in Las Vegas in 2010.
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- The land was then sold to North Beach Holdings, which in turn sold the land to a group that built the Revel.
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In 1982, they looked at acquiring a site on Great Island from Vornado, Inc., but the site required rezoning. The company would later return to the city in 2017 with its purchase of the shuttered Trump Taj Mahal and planned renovation of the property as a Hard Rock casino. Hard Rock dropped the project in September 2012 because market conditions in Atlantic City, including poor results at the newly opened Revel casino, made it very difficult to secure financing. Colonial filed bankruptcy in 1982 and gave the land back to Trans-Expo, which held the mortgage.
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However, after his company entered bankruptcy in 2005, the property was auctioned off to BET Investments, owned by real estate developer Bruce E. Toll. In 1996, Donald Trump proposed building a 430-foot yacht, docking it next to the Trump’s Castle resort in the marina district, and opening a casino on the boat. The land was later sold to Colonial Commercial Corp., which defaulted on the mortgage and the land was reacquired by Tran-Expo. In July 1978, the pier was purchased by the Resorts Casino Hotel for non-casino use. In August 1977, Jerrold Polinsky, a cable television owner from Minnesota, announced an agreement to lease the Howard Johnson’s Regency Motor Hotel and build a casino. The land consisted of 17 acres adjacent to The Borgata owned by Pagano, and a 13-acre site across the street owned by Marina Towers Association.
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