Owner Bart Blatstein has big plans to bring the Showboat casino back to life. Now with preliminary approval, can Atlantic City handle 10 casinos? The company placed a deed restriction on the property that it could not operate as Table games, slot machines, sports betting, and yes, NJ online gambling.
Five years after a Philadelphia developer bought an Atlantic City shopping and of the Showboat hotel in Atlantic City, N.J. (Wayne Parry/AP Photo) The fourth casino, the Atlantic Club, was sold last year to a New York firm.
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It would be a bad move. Second-quarter earnings are sure to be worse because the casinos have been shut all of April and, so far, May, with no reopening date scheduled. Share this Facebook Twitter Email. The casino closed in , and he reopened it as a non-gambling hotel. Atlantic City casinos shatter revenue-drop record β again. It will certainly cause cannibalization of the existing properties. Sign up for our weekly newsletter. He has received preliminary approval from the state to seek a casino license, but no hearing dates have yet been set. The city needs to be in better shape. On Tuesday, Blatstein sold the Playground pier complex back to Caesars Entertainment, from whom he bought it five years ago. Money Business New Jersey. You may also like. Atlantic City Mayor Marty Small, who is leading opposition to a proposed change of government that would replace a directly elected mayor with an appointed city manager, called the criticism an attempt to sway public opinion in favor of the change. About Associated Press Read more. Ways to Donate.{/INSERTKEYS}{/PARAGRAPH} Blatstein told The Associated Press the move frees him up to pursue the restoration of gambling at the Showboat. Enter your Email here. Skip to content Challenge Alert. Go out and buy the biggest bulldozer the county has to offer, and you could probably make a lot of positive changes. {PARAGRAPH}{INSERTKEYS}And they also oppose the return of gambling to the former Showboat casino, which currently operates as a non-gambling hotel but whose owner is moving forward plan to restore gambling there. An early and recurring theme was the need to get rid of crime and blight from areas most tourists see, making them feel safer and creating a better image of Atlantic City that could help spur future investment. While casinos and local unions formulate guidelines for reopening, city government fights off a referendum and out-of-work residents line up for food.