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(AllHipHop News) The $4 million dollar Atlantic City branch of Jay-Z’s 40/40 Club is closed for good according to the Press of Atlantic City.

The local publication reports that the upscale sports bar shut it’s doors back in October when its lease ended. That was the same month that Hurricane Sandy hit the Atlantic City area, and as a result the club experienced significant water damage.

“There was a big hole in the roof as well,” stated the club’s spokesman Ron Berkowitz. “With the end of the lease and with Sandy, we decided we had a good run, and it was time to move on.”

Since opening in October of 2005, the 40/40 Club had been become a major site in A.C. for hosting parties and events that catered to Hip-Hop crowds. Some of the biggest names in sports and entertainment like Beyoncé, Terrell Owens, and Nicki Minaj were seen at the venue.

The Atlantic City 40/40 did receive some bad press in 2009 when video footage of bouncers allegedly beating two men outside the club surfaced online. DJ Fah D, who did a one year residency at the nightspot in 2011, told the Press of Atlantic City that the crowds at 40/40 decreased after the incident took place.

While the Atlantic City 40/40 location will no longer be available the two New York City sites (West 25th Street in Manhattan, Barclay’s Center in Brooklyn) are still open.

The Manhattan 40/40 recently underwent a $10 million dollar renovation, and its grand reopening in January of 2012 was a star-studded event attended by Spike Lee, Swizz Beatz, C.C. Sabathia, Selita Ebank, and billionaire investor Warren Buffet among others.

There were also reports that 40/40 owners were working with the Delaware North Corporation to open satellite sites in airports across the country, but in 2012 their bid to open in Atlanta’s Hartsfield Jackson International Airport was denied.

[ALSO READ: Jay-Z Drops 40/40 Club Chicken Wing Lawsuit]