The property was originally part of the Paradise Island Hotel and Casino, which opened in 1968. The property's name was changed to Atlantis when The Royal Towers was built. The Coral Towers and The Beach Tower were later refurbished to match the theme of the Royal Towers. On March 28, 2007, a 600-suite luxury hotel named The Cove Atlantis opened on Paradise Island. Another tower, the 497-room The Reef, opened December 19, 2007. As of July 2014, the property is owned and operated by Brookfield Hospitality.