The Philadelphia developer is bullish on Atlantic City, and he's starting with the Showboat.
Real estate developer Bart Blatstein said on Friday he will reopen the Showboat, one of Atlantic City's four shuttered casino hotels, in July, but without the gambling.
Blatstein, chief executive of Philadelphia-based Tower Investments, said in a statement that 852 hotel rooms will open in two towers at the Showboat, making it the largest non-casino hotel in New Jersey...
The Showboat carries a deed restriction that currently prevents it from reopening the casino. Former Showboat owner Caesars Entertainment Corp closed it in 2014 even though it had been marginally profitable.
Asked whether he would ever seek to reopen the casino at Showboat, Blatstein said in a phone interview that "all options are open ... It's a remarkable property. I'm very bullish on Atlantic City."
He aims to open the hotel by July 4, though it could take an additional week.
"To open up that many rooms in a month's time, it's a lot of sheets and pillowcases. It's a lot of work," he said.
Blatstein has other developments in the seaside resort town, including the boardwalk entertainment and retail complex The Playground at Caesars casino hotel.
Original source: Reuters (via
The New York Times)
Read the complete story
here.