Showboat Hotel Atlantic City Executive Hire Could Signal Casino License Push

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Casino news - The Showboat Hotel successful Atlantic City hasn’t offered a slot instrumentality aliases array crippled since Caesars Entertainment closed nan Boardwalk spot connected Aug. 31, 2014. A caller prosecute astatine nan family-focused edifice could hint that ownership mightiness soon prosecute a casino license.

Showboat Atlantic City casino licenseSpeculation is rampant astir gaming returning to nan Showboat aft nan edifice hired Anthony Farcana, a longtime gaming manufacture executive. The Showboat hasn’t had a slot instrumentality successful astir a decade. (Image: Showboat Hotel Atlantic City)

Showboat announced past week nan hiring of Anthony Farcana arsenic its adjacent wide manager. Farcana arrives aft serving arsenic president of nan neighboring Hard Rock Hotel & Casino. He antecedently worked successful executive capacities astatine Live! Casino & Hotel Maryland and Parx Casino adjacent Philadelphia.

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Farcana’s resume includes executive stints astatine Station Casinos successful Nevada and astatine Caesars Entertainment wherever he led location operations.

We are thrilled to denote nan summation of specified a dressed up executive to nan Showboat team,” said Bart Blatstein, nan proprietor of nan Showboat done his Philadelphia-based Tower Investments existent property firm. “Anthony has nan acquisition and qualities that will guarantee he is simply a valuable plus to not only our Showboat family, but besides nan full community.”

Farcana’s assignment brings plentifulness of speculation that Blatstein will activity a casino licence from nan New Jersey Casino Control Commission.

Deed Restriction Set to Expire

Caesars a decade agone closed nan Showboat contempt nan edifice remaining profitable to easiness title astatine its 3 different properties successful town. When nan Mardi Gras-themed destination was shuttered, Caesars placed a deed regularisation connected nan spot that prevented it from being utilized arsenic a casino.

That deed restriction, according to Jim Kennedy, a erstwhile executive head of nan Casino Reinvestment Development Authority (CRDA) and a section economical analyst, expires this November.

It judge looks for illustration a Showboat casino is successful play,” Kennedy tweeted connected X.

Blatstein has toyed pinch nan thought of a casino successful nan past.

In 2019, he contemplated a deed regularisation workaround by suggesting building a caller brick-and-mortar building adjacent to nan resort. Blatstein that twelvemonth revenge paperwork pinch nan CRDA to subdivide nan spot into five caller tons of record.

Blatstein yet folded connected nan casino conception successful favour of building a $100 cardinal waterpark connected what was formerly outdoor formation volleyball courts. The amusement attraction is portion of Blatstein’s effort to make nan Boardwalk edifice nan go-to spot for families visiting nan oceanfront casino town.

Along pinch nan waterpark, nan Showboat is location to nan Lucky Snake Arcade, billed arsenic nan “Biggest Arcade successful America.” The arcade, location to complete 300 games and a go-kart racetrack, operates wherever nan casino erstwhile did.

Waterpark Underperforming

Blatstein rumored to beryllium mulling a casino could beryllium successful portion because his Island Waterpark mightiness not anytime soon present a return connected his investment.

After opening past twelvemonth astir nan July 4 vacation to overmuch fanfare and precocious summons prices — $89 per big — nan Showboat successful October announced it was cutting rates successful half and limiting operating hours for nan amusement zone. The park is open only four days a week connected Mondays and Fridays from 12 p.m. to 7 p.m. and connected weekends from 11 americium to 8 pm.

A 10th casino would presumably beryllium unwelcomed by nan existent casinos, arsenic nan marketplace is stabilizing post-pandemic. The 9 casinos won $2.84 billion connected their beingness floors past twelvemonth — a 2.2% year-over-year improvement. The 2023 gross topped 2019 erstwhile nan casinos won astir $2.78 billion.

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