The owners of the closed Atlantic Club Casino Hotel in Atlantic City in the US state of New Jersey are close to reaching a deal with a buyer, reports

Tide of optimism at Atlantic casino

Dale Schooley, director of acquisitions for the Florida-based TJM Properties, said a contract is in place with an undisclosed group, while Don Guardian, the mayor of Atlantic City, said last week that he had talked to two developers about the property.

TJM bought the Atlantic Club from an affiliate of Caesars Entertainment in May, 2014, for $13.5m. Since then a number of propsective deals have fallen through and the casino has remained closed.