The other building, accessible by a skybridge from the second floor, housed the 800-seat Cabaret and shops. The main building housed the multi-level casino, 500-room hotel tower and restaurants. The complex was split into two sections divided by Florida Avenue. Playboy agreed to sell its share of the hotel/casino to Elsinore and the property's name was changed.

The New Jersey Casino Control Commission finally granted a permanent gaming license to Elsinore Corporation, but not to Playboy Enterprises (due to concerns about the company's London casino operations, as well as payments made by the company to New York officials in the early 1960s in order to get a liquor license for its New York Playboy Club). The hotel/casino originally opened with a provisional gaming license, but the licensing process was slow due to questions about the suitability of both partners. The hotel/casino project was initiated by Playboy Enterprises, which later took on Elsinore Corporation (owner of the Four Queens Hotel and Casino in Las Vegas) as a partner in order to obtain financing. It opened on April 14, 1981, as the Playboy Hotel and Casino, then changed its name in 1984 to Atlantis Hotel and Casino. Trump World's Fair at Trump Plaza was a hotel and casino in Atlantic City, New Jersey, that occupied 280 feet (85.3 m) of the Atlantic City boardwalk and was 21 floors in height. As the Atlantis Hotel and Casino, circa 1987