Showboat Casino to Become a College Campus

Greg Roselli - Showboat Casino

Showboat Casino, Atlantic City

Spokesperson for the southern New Jersey College announced they are soon to have a new satellite campus located in Atlantic City’s iconic Showboat Casino. From March, 1987 to August, 2014, Showboat and its Mardi Gras themed atmosphere has been one of the most famous casinos of Atlantic City, shifting ownership a few times over the years, but never losing its glamor.

After the abrupt closing of Showboat this year, from its 2100 employees, roughly 470 were reincorporated in other Caesar casinos. Stockton College’s President says he hopes to not only fuel the college’s educational growth, but also bring about new academic opportunities to the untapped area of Atlantic City. The deal is still in the early stages for detailed information and due to a confidentiality agreement, the price and closing date could not be disclosed.

Showboat is one of the four Atlantic City casinos to be shut this year with a loss of approximately 8,000 jobs. Showboat, still profitable, was shut down regardless by Caesars Entertainment to cope with the falling revenue and the rising competition in Atlantic City. Showboat is not the first of its kind to be repurposed in the Atlantic City area; the former Claridge casino is now a non-gambling hotel while Atlantic Club is now owned by TJM Properties who are yet to announce their intentions for it.

The Chairman and CEO of Caesar’s Entertainment, Gary Loveman explains that Caesar’s opts for deed restrictions which prevent the casinos being reopened as casinos because Caesar’s is striving towards a transformed Atlantic City  which offers a diverse array of reasons for people to visit. And of course, there is the added benefit of no new competitions!

He believes the Stockton campus,  with all of its 28 acres and 1,425,000 square-foot building, will play an instrumental role in the City’s diversification. Atlantic City is known for its its gambling scene and casino lifestyle and Mr. Loveman may be on the right track in predicting that having a college campus may help change its somewhat notorious reputation.

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