RMS Capital Announces The Top Hat Boutique Hotel in Atlantic City

A unique boutique hotel inspired by the classic board game Monopoly is set to be developed in Atlantic City, the birthplace of the game’s iconic street names. 

RMS Capital, a New Jersey-based real estate developer, announced its plans to break ground on The Top Hat at The Orange Loop in 2025. 

The hotel, drawing inspiration from the game’s top hat piece, will be a striking three-story structure that will feature the top hat prominently atop the building. 

Additionally, a racecar token, which was added to the game in 1943, will extend from the building’s façade.

“A Game Changer for Atlantic City”

RMS Capital’s managing partner, Mark Callazzo, highlighted the significance of the project for Atlantic City. “The Top Hat at The Orange Loop is a game changer for Atlantic City. We’re not just building a structure — we’re creating a space that will serve as a landmark for residents and visitors alike,” he said. 

The Top Hat is expected to completely transform the Orange Loop area, which has evolved significantly from its “Dead Zone” reputation. 

“This project represents the next step in its evolution. It’s about revitalizing the area, supporting local businesses, and offering unique experiences that drive tourism and economic growth,” Callazzo added.

The Exact Address Was Not Revealed 

The hotel will be located along Tennessee Ave. in the heart of Atlantic City, just a short distance from the iconic Boardwalk at Central Pier. 

While RMS Capital has not disclosed an exact address, The Orange Loop spans three beach blocks from Tennessee Ave. south to St. James Place and New York Ave. 

This area already features a mix of local attractions, including restaurants, a coffee shop, live music venues, a cannabis dispensary, and more.

Although The Top Hat will not feature a casino or gambling facilities, it will instead offer a fresh boutique experience with six rooms and retail space spanning 1,400 square feet on the ground floor. 

The two nearest casinos to The Orange Loop are Resorts Casino Hotel in the north and Bally’s to the south. 

The new hotel is expected to cater to visitors seeking a unique, game-themed stay in Atlantic City, and each room will likely come with a Monopoly set to further embrace the theme.

The six bedrooms will accommodate up to 12 guests, as well as a rooftop deck boasting beautiful views over Atlantic City.

The development will also align with the current tourism trends, offering concierge services to encourage guests to explore Atlantic City’s wide range of dining, entertainment, and cultural experiences, both within and beyond the casino scene.

A Symbol of Resilience and Innovation 

Callazzo emphasized that The Top Hat is not just a building, but a symbol of Atlantic City’s resilience and innovation. 

“Atlantic City is a resilient and diverse community, and this project reflects my belief in its bright future,” Callazzo commented. 

“From supporting local entrepreneurs to providing a unique space for visitors to stay and explore, The Top Hat is about investing in the people and businesses that make Atlantic City such a special place,” the managing partner added. 

Along with this exciting project prone to draw the attention of passionate Monopoly fans, the growth of Tennessee Avenue will go on with the creation of a container park, a transformative project mixing entertainment with community spaces to further enhance the vibrancy of the city. 

In November, Virgin Casino in New Jersey announced its plans to rebrand as “Monopoly Casino,” without providing an explicit reason as to why the change was needed.