The Catanoso brothers and their partners have taken over ownership of Steel Pier, the amusement venue they operate in Atlantic City, New Jersey
Steel Pier Associates LLC purchased the 113-year-old landmark for $4.25 million from Trump Entertainment Group Inc just weeks before it was to be presented at a special auction. The sale includes the 1,000-feet pier and its buildings, located across the boardwalk from the Trump Taj Mahal Casino Hotel, as well as the rights to the name Steel Pier.
Steel Pier Associates’ principals include the Catanoso brothers — Anthony, Charles and William – and long-standing partner Ed Olwell, who have been leasing and operating Steel Pier for the past 20 years. A new partner is Paul Steelman, entertainment architect best known for designing the Sands Macao, the first Las Vegas Style casino in Asia.
Under the Catanoso and Olwell leadership, Steel Pier has operated seasonally from spring to fall, offering free admission, more than 20 rides and attractions, plus food, games and retail. A full-scale heliport offers tours up and down the Atlantic City coastline.
“This purchase means more to us than just owning the structure on which we operate an amusement park,” says Anthony Catanoso, president of Steel Pier Associates. “For us, it’s an honour to own something that has touched and entertained so many people over the years. As a lease holder, we were unable to make long-term plans but as the owner of Steel Pier, we now have some amazing opportunities that we will be evaluating for the future.”
Steel Pier became the “Nation’s Showplace” in the early 1900s when tens of thousands of visitors were entertained by top performers such as Frank Sinatra and Al Jolson to novelty acts like a diving horse.
Pictured below, left to right: Jimmy, Bill and Tony Catanoso, Steel Pier co-owner Ed Olwell, Joe Catanoso