Atlantic County Executive Levinson Hails Norcross Purchase of Former Trump Plaza
Atlantic County Executive Dennis Levinson voiced enthusiasm for George Norcross’ $5 million purchase of the vacant Trump Plaza site from Carl Icahn. The deal covers a 2,658-space garage and 361-room tower idle since 2014. Levinson expects the investment, modeled on Norcross’ Camden work, to attract further Boardwalk development via non-casino uses.
SCCG Take — The purchase places private capital at the center of Atlantic City’s response to New York gaming expansion. Local leadership frames condominium redevelopment as the viable path for this specific asset.
Atlantic County Executive Dennis Levinson described himself as “ecstatic” over George Norcross‘ acquisition of the former Trump Plaza casino resort. The Republican official set aside partisan differences with the Democratic power broker to praise the deal as a potential boost for the city.
Levinson told Casino.org that Norcross’ involvement signals momentum for Atlantic City. He cited the $1 billion Camden Waterfront overhaul that Norcross led with $50 million of his own capital as a model. Levinson added that if Norcross achieves even half that impact in Atlantic City he would be satisfied.
Transaction Details
Property records show billionaire Carl Icahn sold the 10-acre site to Norcross and a small group of investors that includes Norcross’ adult children Lexie and Alex. The sale price was about $5 million and closed in September.
The assets include a 10-level, 2,658-space parking garage and the 21-story, 361-room former hotel tower that has stood vacant since 2014. The larger 39-floor structure was demolished in February 2021 after it became a public hazard.
Site Outlook and Local Impact
Levinson said a return to casino operations at the property is unlikely. He speculated that first-class condos represent the more probable redevelopment path.
The county executive argued the central Boardwalk location will produce a contagious effect. “When you build up an area, it becomes contagious, and others want to come in,” he stated. Levinson noted the purchase arrives as Atlantic City contends with expanded gaming in New York City and the possible closure of the Sheraton at the Atlantic City Convention Center. He concluded that everyone ought to thank Norcross for believing in the area.
Reporting: Casino.org News
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