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HOME > NEWS > Investor News > Atlantic City's Showboat plans to close

Atlantic City's Showboat plans to close

27 June 2014

Another Atlantic City casino is biting the dust.

Philly.com reports that the Showboat Atlantic City hotel and casino plans to close this summer. Bob McDevitt, president of Unite Here Local 54, said he was notified by Caesars Entertainment that Showboat employees would receive layoff notices Friday.

"For Caesars to close a profitable casino is a criminal act committed upon the citizens of Atlantic City," McDevitt told Philly.com.

Showboat's possible closing comes six months after the Atlantic Club shut its doors and a week after the Revel Casino Hotel announced its bankruptcy. Revel has announced it will close if it does not find a buyer by Aug. 18.

Caesars, meanwhile, is saddled with a gaming industry high $23 billion in long-term debt.

 
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