Business

Showboat Atlantic City to Close Aug. 31

This Oct. 26, 2011 photo shows the Showboat Casino Hotel and its House of Blues nightclub in Atlantic City, N.J. A union official said on June 26, 2014 that a top executive of Showboat's parent company, Caesars Entertainment, revealed plans to issue notices to the casinos employees the next day warning that the Showboat could be shut down in 60 days. (AP Photo/Wayne Parry)
This Oct. 26, 2011 photo shows the Showboat Casino Hotel and its House of Blues nightclub in Atlantic City, N.J.  (AP Photo/Wayne Parry)

Jessica Parks, Suzette Parmley, Amy S. Rosenberg, and Jacqueline R. Urgo
Special to Philly.com from The Inquirer

 

ATLANTIC CITY, N.J. (Philly.com)—Showboat Atlantic City hotel and casino will shut down Aug. 31, Caesars Entertainment announced Friday, citing declining revenue, increased competition and a high tax burden for the decision to close.

“While we regret the impact that this decision will have on our Showboat associates, we believe this is a necessary step to help stabilize our business in Atlantic City and support the viability of our remaining operations in the vicinity,” Gary Loveman, Caesars’ chairman and chief executive officer, said in a statement.

At a Friday afternoon press conference outside the Tangier Walk outlets where a new Bass Pro Shop is under construction, Atlantic City Mayor Don Guardian said: “Atlantic City is still on the move despite this economic hiccup.”
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