Secure adnxs

The Show is Over for Showboat Casino Atlantic City


Walk along the boardwalk in Atlantic City, New Jersey and there will be one less Casino along the way to lay your bets down at. Showboat Casino part of Caesars Entertainment group has decided shut down their doors since a more than $3 billion drop in revenue over the last 8 years and increased competition.

Gary Loveman, Chairman and Chief Executive Officer said:

“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.”

The Mardi Gras themed Casino is due to close on August 31st and in a statement from Loveman said it was a “difficult decision.”

"We sincerely appreciate the service, dedication and professionalism shown by the employees of the Showboat over the years to provide our customers with incredible experiences," he said.

Revel Casino Hotel is also in jeopardy of closing down if a buyer cannot be found in bankruptcy court.

Bob McDevitt president of the Casino workers union plan on talking to Showboat employees over the course of few days. He said: “"I'm heartbroken and angry, too angry to respond in an effective way”.

In the first quarter of this year Showboat made a gross operating profit of nearly $2 million, down from the nearly $8.5 million in the first quarter in 2013. In this year so far Showboat has taken in $66.2 million from gamblers placing it 7th out of the 11 existing Atlantic City Casinos.

Loveman said the Casino will be fully operational until August 31st and any guest reservations after that date will help find new accommodations elsewhere. 2,100 workers will be out of a job but Caesars Entertainment will help these employees find a job at another Casino within the group.

Other Atlantic City Casinos owned by Caesars Entertainment include Harrah's Resort ranking number two in the amount of money spent rom gamblers each month, Caesars Atlantic City and Bally's.

"Caesars is developing a new, state-of-the-art meetings facility adjacent to Harrah's Atlantic City, and is pursuing other opportunities to stimulate new visitation and growth, including recently overhauling the gaming floor at Bally's and investing in new dining options throughout the company's Atlantic City footprint," Loveman said.

Land Based Casino News

Members Comments

  • United States jade

    9/1/15

    It should have said that Caesars Entertainment group, the greedy xxxxxxxx, have Showboat Casino, Revel Casino Hotel, Harrah's Resort, Caesars Atlantic City and Bally's, have too many casinos in Atlantic City and now they have to close a few before they lose their ass.
    Competing against itself, like a dog chasing its tail, nothing good is gonna come out of it.

Login to post a comment:


 
 

Click Here to register a new account

What's going on right now!

1mins ago someone from fr flag France, French Republic read article New Slot Releases for Play’n Go

Casino Community

Share this page on:
Follow LCB on:
Follow LCB

In the last 24h

Totals

  • New Members
    26
  • Members Online
    507
  • Guests
    1,762
Highest Community Rated Online Casinos
Guts Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (362 Ratings)
Bet365 Games
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (323 Ratings)
Unibet Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (291 Ratings)
Casino Adrenaline
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (257 Ratings)
NextCasino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (337 Ratings)
Vera John Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (314 Ratings)
Betsson Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (398 Ratings)
CasinoLuck
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (417 Ratings)
Redbet Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (310 Ratings)
SlotsMillion
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (212 Ratings)
32 Red Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (665 Ratings)
Bet365 Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (589 Ratings)
Lucky Red Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (391 Ratings)
BETAT Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (365 Ratings)
ComeOn Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (448 Ratings)
Rizk Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (99 Ratings)
Winner Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (442 Ratings)
Betsafe Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (383 Ratings)
William Hill Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (212 Ratings)
Win A Day Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (638 Ratings)
Club USA Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (501 Ratings)
Mr Green Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (469 Ratings)
Ignition Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (45 Ratings)
Betfair Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (402 Ratings)
Red Stag Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (209 Ratings)
Ladbrokes Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (234 Ratings)
Slotland
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (577 Ratings)
SlotJoint Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (99 Ratings)
Sportingbet Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (182 Ratings)
Buzzluck Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (335 Ratings)


Follow LCB on Facebook Follow LCB on Twitter Follow LCB on Pinterest Follow LCB on Google plus