Updated: 4:32 with further comment from CRDA

In the too good to be true department, the announced New Year's Eve concert at Boardwalk Hall in Atlantic City that was supposed to be broadcast on Dick Clark's New Year's Rockin' Eve with Ryan Seacrest will not happen.

The beleaguered casino town under state takeover seemed unlikely to even get a plug - as was negotiated by the state under a three year $11.25 million contract with dick clark productions and the Miss America Organization, though that remained unclear.

"No, dick clark productions is not reneging on the contract," said David Zuba, spokesman for the N.J. Casino Reinvestment Development Authority, in an e-mail (emphasis his). The CRDA was the agency that negotiated the deal.

Zuba said the contract created the "opportunity" for Atlantic City to host a show that would be featured on Rockin' Eve.

The steep price tag to keep the old pageant going strong was justified in part because of the promotional and marketing consideration Atlantic City would receive, in particular from the New Year's Eve telecast, which reached 59 million viewers last year.

"Importantly, the agreement rewards Atlantic City with significant new broadcast television exposure, social media integration with the organization and retains a truly iconic event in Atlantic City," Robert Mulcahy, chairman of the board of the New Jersey Casino Reinvestment Authority, said at the time the Miss America deal was announced. Many, including Mayor Don Guardian, thought the money might better be spent.

The concert idea was hatched separately, after two of the six beach concerts subsidized by the CRDA with a multimillion deal with Live Nation were canceled Labor Day weekend due to weather concerns. The money, about $325,000 for each concert, was to be used for the New Year's Eve concert, to be promoted by Live Nation. No act was ever announced.

The CRDA issued this statement about the cancellation of the concert:

"The CRDA continues to work with Dick Clark Productions and our other business partners to attract top-tier artists to perform in Atlantic City.  Though we hoped to sponsor a New Year's Eve performance at Boardwalk Hall this year, scheduling conflicts and other considerations have redirected our focus to the 2017 concert calendar."

The CRDA the added this statement when asked whether Dick Clark productions would live up to its agreement to plug  Atlantic City on NYE :  "We will continue to work with our partners to take advantage of this opportunity next year."

Messages sent to Dick Clark Productions were not returned. Live Nation referred inquiries to the CRDA.

The casinos and nightclubs typically sponsor their own lavish parties for customers on New Year's Eve, as do non-casino hotels like the Chelsea. Last year, Bart Blatstein's The Playground sponsored a big New Year's Eve bash, but the WAV nightclub that was the venue's centerpiece, has closed. Posted hours this year for New Year's Eve are until 9 p.m.

Tropicana Casino will sponsor fireworks at 9 p.m.

No word on whether the Revel Ball will drop.