Okay, so the Jigga man didn’t “lose” the 40/40 Club in Atlantic City, not in a sold the business type of instance. The lease of the club is up however, and will be closing where it stands on Mississippi and Atlantic Avenues.
Atlantic City, or AC as some like to call it, is a popping place! With nightlife, many go there to enjoy gambling, the amazing hotels, and nightclubs. But, if you plan to make a trip to AC anytime soon, the 40/40 will not be on your itinerary.
The 40/40 Club, is owned by Jay-Z. There are two in New York, and one in Atlantic City, New Jersey. The upscale nightclub in Atlantic City opened it’s doors in 2005. As soon as the business was opened, it was booming! Not only was the club booming due to the owner, but the location was perfect, as it sat in front of Caesars Atlantic City.
Back in October of last year, the valued 4 million dollar, two level facility, closed. The closing of the 40/40 was around the same time that Hurricane Sandy hit. If you remember this weather disaster, you know that New Jersey was one of the places hit hardest by the hurricane. Because of the storm, the club received a ridiculous amount of water and building damage, and has not been able to operate since.
Although the club is closing, Cristin Bentz, assistant general manager for Tanger Outlets The Walk, says that the city is looking for another establishment to take it’s place. Bentz has not stated what kind of tenant will vacant the property, but he is excited about the search.
Whoever decided to fill the 40/40′s place better have a good business plan, and hopefully that plan keeps Atlantic City live!