Showboat Owner gets closer to securing a Casino License
The New Jersey (NJ) Casino Control Commission will be considering a compliance petition that will be filed by the Showboat Atlantic City owner. Should the petition be approved, it will overlay the wave for being granted a full-scale casino license to the no gambling resort. Philadelphia-based entrepreneur Bart Blatstein bought the Showboat in 2016 for $23 million. The property was not operative at the time. Previously a hotel and a casino resort, the Showboat had closed its doors in 2014. It was the second of four Boardwalk betting properties that had shut down that year.
Mr. Blatstein revived the Showboat in 2016 as a non-gaming resort. He submitted his declaration of acquiescence petition in 2018. This follows an investigation of whether the entrepreneur was suitable to run a casino on the territory of the national. The New Jersey Division of Gaming Enforcement issued an endorsement to the Casino Control Commission.
Atlantic City Showboat
The casino regulator will vote on Monday on whether to approve Mr. Blatstein’s request, based on the Division of Gaming Enforcement’s reference. If he is granted the petition, he will be able to apply for a casino license with the New Jersey regulators, should the plans for the property still include adding a casino.
Revolution of Showboat’s Towers
It is still uncertain if the Showboat will re-start its place in Atlantic City’s casino industry. Mr. Blatstein said to Atlantic City press, that he will be commenting on his plans for the casino share of the property after the vote.
The mogul has previously told his plans to convert one tower into 264 apartment units. Mr. Blatstein required approval from the land use department of the Casino Reinvestment Development Expert approval to materialize his strategy. The agency approved the project in November. The 20-story tower is close to Pacific Avenue is being turned into a rental apartment structure with a mix of studio, one and two-bedroom units. The Showboat was running over 1,330 hotel rooms. It will feature over 1,000 hotel rooms when one of its building is transformed into an apartment tower
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