![]() ![]() The dynamic in Atlantic City has led us to the difficult but necessary decision to close Showboat in an effort to help stabilize our business there and support the viability of our remaining operations in the vicinity. “Since 2006, revenue in Atlantic City has declined by more than $3 billion and competition in the city has increased. “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,” said Gary Loveman, chairman and chief executive officer of Caesars Entertainment. The difficult decision to close the property follows persistent declines in business levels in the area exacerbated by the high property-tax burden in Atlantic City. LAS VEGAS, J– Caesars Entertainment Corporation today announced it will close Showboat Atlantic City effective August 31, 2014. The Showboat is the poorest-performing of the four Atlantic City casinos that Caesars Entertainment owns.Ĭompany CEO Gary Loveman said in May that Atlantic City’s 11 casinos are too many, and that the company would work to find ways to reduce its expenses in New Jersey. It’s worth mentioning that Showboat is right next to the Revel, which is also in trouble financially. ![]() About 2,500 people work for the Showboat.
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