Sale of ex-Showboat casino to Philly developer finalized

Saturday, January 16, 2016
Caesars says it will close Showboat

ATLANTIC CITY, N.J. -- The $23 million sale of Atlantic City's former Showboat casino to Philadelphia developer Bart Blatstein has been completed.

But the new owner still has not said whether he intends to reopen it as a casino.

Blatstein says he is considering a casino there, but adds that non-gambling options including office space and entertainment uses would work well at the building.

He is known for several development projects in Philadelphia, as well as the transformation of Atlantic City's Pier Shops into The Playground complex.

He bought the Showboat from Stockton University. The college had bought it from Caesars Entertainment, hoping to convert it into a satellite campus.

But competing legal restrictions on how the property could be used scuttled that plan.