Atlantic City Land Casino To Make Way For A College

Shuttered Showboat is destined to become a college campus

Speculation around the fate of the Showboat, the third Atlantic City land casino to shut down this year (see previous InfoPowa reports) has ended following an announcement by Stockton College that it has agreed to obtain the property from Caesars Entertainment for an undisclosed consideration.

The education company said Wednesday that it intends to convert the spacious property into a satellite campus. The asset comprises a 1.4 million square foot building, which held 1,329 hotel rooms on 28 beachfront acres.

"Our intent is to engage in a project that enhances Stockton's educational growth, offerings and cost-containment while at the same time brings new educational opportunities to Atlantic City," Stockton president Herman Saatkamp said.

"Because we are merely at the letter-of-intent stage and bound by a confidentiality agreement, it is premature for me to give out any additional information."

Stockton College purchased the Seaview Resort in Galloway Township, New Jersey, in 2010 for $20 million. It uses part of the property to train students in hospitality and generate revenue for the college, and to house students.

Online Casino News Courtesy of Infopowa

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The man with the plan here at Casinomeister. Bryan Bailey has been running Casinomeister since its launch in June of 1998. He has watched the industry grow from its primeval stage to what it is now. The Meister has attended nearly 100 conferences in the past 20 years and has either been a speaker or a panel moderator for at least 60 events. He has always been an advocate of fairness and reason and is known to like German beer, a good Scotch, and astrophography.
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