ATLANTIC CITY, NJ—Caesars Entertainment, which announced last week it would close the doors to its Showboat Atlantic City Hotel and Casino on Aug. 31, says it would entertain offers to sell the property as a casino.
In fact, Gary Thompson, a Caesars spokesman, told NJBIZ that the firm would be willing to sell Showboat as a casino and that “preliminary inquiries” have already been received on the property.
While Caesars will close the Showboat, it still operates Harrah's, Bally's and Caesars along the Atlantic City boardwalk and is also proposing an $880-million casino in Woodbury, NY to the New York State Gaming Commission.
According to New Jersey's Division of Gaming Enforcement, the Showboat registered a $34-million profit last year, down 28% from its 2012 performance.
At a press conference on Tuesday held outside the Showboat, State Assemblyman Chris Brown called on Caesars to sell the property in order to keep the facility open and save the 1,200 casino jobs there. “They're choosing to close a profitable casino while they're choosing to spend $880 million to build a brand new casino in New York, which is competition to us,” Brown said. See story in NJBiz.
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