Philadelphia real estate mogul, Bart Blatstein, recently acquired the former Showboat casino in Atlantic City for $23 million. While he has suggested a potential return of gaming, Blatstein also envisions a mixed-use space with offices and entertainment options. Known for his numerous projects in Philadelphia and the successful transformation of Atlantic City’s Pier Shops into The Playground, Blatstein is a prominent figure in development. He has conveyed enthusiasm about contributing to Atlantic City’s resurgence and recognizes the potential of the Showboat’s legacy and iconic status.
Previously, Stockton University held ownership of the property, having purchased it from Caesars Entertainment in 2014 for $18 million following the casino’s closure earlier that year. The university’s intention to establish a satellite campus encountered legal obstacles due to limitations on the property’s permitted uses.
Stockton’s president, Harvey Kesselman, shared his contentment in securing a buyer with a proven history of success and a dedication to Atlantic City’s progress. He views the sale as advantageous for Stockton and anticipates collaborating with Blatstein to further the city’s revitalization.
