The Showboat Casino in Atlantic City, New Jersey closed its doors for good on August 31, 2014 after 27 years in operation. The decision to close the casino was made by its owner, Caesars Entertainment, as the property was no longer profitable.
The Showboat was one of four casinos in Atlantic City that were owned by Caesars Entertainment. The other three are still in operation: Bally’s, Caesars, and Harrah’s.
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All four of these casinos were struggling financially prior to the closure of the Showboat.
Caesars Entertainment had considered selling the Showboat but ultimately decided against it. The company cited the costs of renovating and reopening the casino as being too high.
They also said that they did not want to sell the property to anyone who would simply turn around and reopen it as a casino.
PRO TIP:Showboat Casino closed due to economic and competitive pressures in the Atlantic City market. The casino was unable to make a profit and, as a result, was forced to close its doors. The closure of Showboat Casino is a reminder of the importance of staying competitive in order to remain successful in any industry.
The Showboat closure leaves Atlantic City with 11 casinos still in operation. This is down from a peak of 12 casinos in 2014 when the Revel Casino also closed its doors.
The Revel has since reopened under new ownership and is now known as Ocean Resort Casino.
The Showboat closure comes as Atlantic City continues to struggle financially. The city’s gambling revenue has been declining for years as more casinos have opened up in neighboring states.
This has caused many casinos to close their doors, including three in 2014 alone.
The Showboat was one of Atlantic City’s most iconic casinos and its closure is a significant blow to the city. It is unclear what will happen to the property now that it is closed but it is possible that it will be converted into a non-gambling hotel or some other type of business.
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The Showboat casino in Atlantic City, New Jersey, closed its doors for good on August 31, 2014. The decision to close the casino came after a long decline in business. Showboat was once one of the most popular casinos in Atlantic City, but it had been struggling for years.
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