Showboat Casino Atlantic City

Caesars Entertainment has announced that the Showboat Casino in Atlantic City will be closed later in the summer, as gambling revenues continue to fall in the country's third largest casino market. Caesars has stated that the Showboat's doors will finally close due to “persistent declines in the business levels in the area exacerbated by the high property tax burden in Atlantic City.” The closure of the Showboat follows the closing of The Atlantic Club Casino and Hotel which was purchased by the Tropicana Casino and Caesars after a bankruptcy sale, and immediately closed in an attempt to decrease the competition. There could very well be a third closure unless the new Revel Casino can find the right buyer in the near future as profits in the Garden State continue to fall.

Impact on Atlantic City

The closure will have a big effect on Atlantic City and as a large employer over 2,000 people will lose their jobs, and although Caesars states that it was a very difficult decision, CEO Gary Loveman stated that it was a “necessary step to help stabilize our business in Atlantic City and support the viability of our remaining operations in the vicinity.” This means that Caesars now owns just the three casinos in Atlantic City, those being Bally's, Harrah’s and Caesars and only time will tell whether that number is reduced further and whether or not Caesars continues to consolidate. It’s not only land based gaming that’s struggling in New Jersey as regulated online gambling in the state continues to fail in getting anywhere near the revenue amounts that were predicted. Depositing problems are still being blamed and there’s also the fact that many online slots and casino games players are content playing at the many offshore online casinos that are available to them. Looks like tough times ahead for New Jersey gambling as a whole however it’s hoped that a good summer season can help fix a few of the immediate issues.

Alternative Online Options for NJ Players

While land-based casinos in Atlantic City face challenges, New Jersey players have access to numerous US-friendly online casinos offering slots and table games.