Blatstein Buys Former Showboat Casino: A New Era for Atlantic City?

A Philadelphia real estate mogul, Bart Blatstein, recently acquired the former Showboat casino property in Atlantic City for $23 million. Blatstein, renowned for his urban renewal projects in Philadelphia, views this purchase as a chance to replicate his success in Atlantic City. Although he is contemplating the return of gaming to the site, his vision also encompasses office areas and entertainment facilities. Blatstein purchased the property from Stockton University, who had previously acquired it from Caesars Entertainment in 2014 after Caesars shuttered the casino earlier that year. Stockton’s intention to establish a satellite campus at the location was stymied by legal constraints on the property’s utilization. Both Stockton University and Blatstein have conveyed enthusiasm about the transaction and their dedication to the resurgence of Atlantic City.