ATLANTIC CITY, NJ—As expected, Caesars Entertainment announced today that its The Showboat Atlantic City Hotel and Casino will close effective Aug. 31.

The Las-Vegas-based company in its prepared statement says the decision to close the property was due to “persistent declines in business levels in the area exacerbated by the high property-tax burden in Atlantic City.” Approximately 2,100 workers will be affected by the closure.

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