ATLANTIC CITY PRESS: Richard Stockton College plans to buy the closed Showboat Atlantic City for use as a branch campus and hotel, Caesars Entertainment Corporation and college officials announced Wednesday…
[Stockton president Herman J.]Saatkamp said school officials have been looking for the right opportunity in the city since 2003, and the Showboat site is a good fit for the college. The college also owns and operates the Carnegie Library in the city, and is outgrowing its rural Galloway site, which is located in protected pinelands and cannot expand.
Alex Bumazhny, a casino analyst at Fitch Ratings, said Wednesday that a non-casino operation at the Showboat site is “probably a good thing for the whole market.” The Atlantic City casino market “was due for a consolidation of supply,” he said.… (more)
