Blatstein Acquires Showboat Casino: A New Chapter for the Atlantic City Landmark
Philadelphia-based real estate mogul, Bart Blatstein, has acquired the iconic Showboat Casino in Atlantic City for a sum of $23 million. While he has alluded to the potential return of gaming operations, Blatstein also outlined his vision to integrate office spaces and entertainment facilities. Renowned for his urban renewal projects in Philadelphia, particularly the successful revitalization of Atlantic City’s Pier Shops into a bustling entertainment destination, Blatstein expressed his excitement about contributing to the city’s ongoing resurgence. He underscored the privilege of owning such a historically significant landmark.
Previously held by Stockton University, who procured it from Caesars Entertainment in 2014 for $18 million, the Showboat was envisioned as a satellite campus. However, legal obstacles tied to the property’s permitted uses hindered their progress. Stockton’s president, Harvey Kesselman, conveyed his contentment in securing a buyer dedicated to Atlantic City’s progress and emphasized the deal’s importance for Stockton’s trajectory. He underscored their partnership with Blatstein in furthering the city’s revitalization efforts.
