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Jay Z open’s 40/40 Club in Atlantic City

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Groundbreaking ceremony were held for the first 40/40 Club outside New York city on Thursday, in front of an audience of journalist and dignitaries. The upscale sports lounge is expected to open Oct. 1 as part of The Walk, a new midtown retail, dining and entertainment complex.

The club will mirror what's offered in New York, except Atlantic City will have balconies and private rooms upstairs within the 15,000-square-foot club. It will also feature Italian leather chairs, pool tables and sports memorabilia.

“It won't be a nightclub in the traditional sense, 40/40 is the most exclusive club in sports. The name implies exclusivity," said Jay-Z the current CEO of Def Jam Records.

The 40/40 name refers to the exclusive and rarefied air of baseball players who hit 40 home runs and steal 40 bases in a season. Only three players belong to the club: Alex Rodriguez, Jose Canseco and Barry Bonds.

Jay-Z said he put off offers to open in Los Angeles and Las Vegas first because of his ties to Atlantic City and New Jersey.

"My main concern now is Atlantic City. I wanted to be part of the building up of Atlantic City," he said.

The 40/40 Club is owned by Jay Z, Desiree Gonzales and Juan Perez.

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