🔥 Showboat owner eyes return of casino at Atlantic City site - WHYY

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Philadelphia developer Bart Blatstein says he believes Atlantic City can support a new casino concept. He's just not saying exactly what it is yet.


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why did showboat casino close

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Is the Showboat Casino coming back to life? Caesars Entertainment closed the Showboat in August for not being “profitable enough.


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This June 8, photo shows the exterior of the Showboat hotel in Atlantic City, N.J. (Wayne Parry/AP Photo) he can concentrate on his plan to return gambling to the former Showboat casino. He did not divulge the sale price. Two others that also closed in — the Trump Taj Mahal and Revel.


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With the closing of Showboat, the giant Revel is next in line, slated to close at 5 a.m. Tuesday, little more than two years after its opening was.


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This June 8, photo shows the exterior of the Showboat hotel in Atlantic City, N.J. (Wayne Parry/AP Photo) he can concentrate on his plan to return gambling to the former Showboat casino. He did not divulge the sale price. Two others that also closed in — the Trump Taj Mahal and Revel.


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It was one of three casinos closing within the next two weeks as Atlantic City deals with the The show is over for the Showboat Casino Hotel.


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Is the Showboat Casino coming back to life? Caesars Entertainment closed the Showboat in August for not being “profitable enough.


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Is the Showboat Casino coming back to life? Caesars Entertainment closed the Showboat in August for not being “profitable enough.


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This June 8, photo shows the exterior of the Showboat hotel in Atlantic City, N.J. (Wayne Parry/AP Photo) he can concentrate on his plan to return gambling to the former Showboat casino. He did not divulge the sale price. Two others that also closed in — the Trump Taj Mahal and Revel.


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Considering the closing of the Showboat was a strategic move (it was a profitable property) when it closed. How long before the Showboat reopens as a Casino.


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Blatstein said he has a casino concept in mind but would not reveal it. Blatstein says he has found a way around a deed restriction that Caesars Entertainment imposed on the Showboat property upon closing it in That clause prevents the property from being used as a casino for 10 years, a restriction that has another five years to go. Breaking News Backpage is gone, but a more graphic version is again fueling prostitution busts in the Lehigh Valley.{/INSERTKEYS}{/PARAGRAPH} Copyright The Associated Press. But Blatstein says he plans to break ground next year on a building planned for land he owns next to the Showboat that would house a casino. The fourth casino, the Atlantic Club, remains shuttered and numerous deals to sell it have fallen through. A report from the state Division of Gaming Enforcement says Blatstein plans to convert the property's bus depot into a family entertainment center and that he intends to offer a full range of slot machines, table games, sports betting and internet gambling. The new competition is raising the market's overall casino revenue, even as it places more strain on existing casinos that had done better in recent years in a smaller market. Philadelphia developer Bart Blatstein said Monday he's moving forward with plans to bring a casino back to the Showboat, which he has been running for three years as a non-gambling hotel. He is moving forward with plans to convert of its hotel rooms to market-rate rental units. Of the seven casinos that were operating before Hard Rock and Ocean Resort opened last June, six won less in than they had in , the latest of several indications that concerns about whether Atlantic City was re-expanding to an unsustainable size are valid. Two others that closed that year, Revel and the Trump Taj Mahal, reopened last year under new brands. On Monday, March 18, , Bart Blatstein, owner of the hotel, said he is moving forward with plans to return casino gambling to the site for the first time since Business Buzz Newsletter. The state Casino Control Commission gave Blatstein preliminary approval Monday to pursue a casino license. He said he believes the market can handle another casino. All rights reserved. That land is not covered by the deed restriction and could easily be connected to the Showboat building. You are now following this newsletter. This material may not be published, broadcast, rewritten or redistributed. A third party management company would operate the casino, but no firm has yet been chosen, according to the state report. See all newsletters. Most Read. The market is looking for something different. That would give Atlantic City 10 casinos, nearing the total of 12 it had in when competition in nearby states helped lead to the shutdown of four casinos. Blatstein, who also owns the Playground pier complex across the Boardwalk from Caesars, bought the Showboat in and reopened it as a non-gambling hotel. {PARAGRAPH}{INSERTKEYS}The third of four Atlantic City casinos that shut down in could soon be offering gambling. Former owner Caesars Entertainment closed the Showboat in June , deciding that while it was still profitable, it wasn't profitable enough. Latest Business. Skip to content. Unemployment claims hit 43 million as states continue to reopen during coronavirus crisis.