Posted: Sunday, August 31st 2014 at 8:27am
Showboat latest Atlantic City casino to close
By The Associated Press
ATLANTIC CITY, N.J. (AP) -- The show is ending for the Showboat Casino Hotel in Atlantic City.
The Mardi Gras-themed casino is shutting down at 4 p.m. Sunday after 27 years on the Boardwalk.
Its owner, Caesars Entertainment, is closing the still-profitable Showboat to reduce the number of casinos in Atlantic City, which has been struggling with plunging revenue and increased competition. Caesars will still own three other casinos in Atlantic City.
"The Showboat has been in business in Atlantic City for 27 years, and all of us at Caesars are extremely proud of the 16 years that our company operated the property," Caesars Entertainment CEO Gary Loveman wrote in a letter to employees. "I want to thank the Showboat Atlantic City team for their dedication, professionalism, and commitment to our guests - both throughout the years and especially over the past several weeks.
"When considering the legacy of the Showboat, I have no doubt that it will be the pride and resilience of the property's team members that remain as indelible images in the hearts of our customers and colleagues for years to come," he wrote.
More than 470 of the casino's 2,000-plus workers are transferring to other casinos the company owns here or in other states.
Showboat is one of three Atlantic City casinos shutting down over the next two weeks. Revel will begin a two-day closing Monday, and Trump Plaza is closing Sept. 16.
Atlantic City began the year with 12 casinos, but before summer is over, it will be down to eight. Nearly 8,000 casino workers will have lost their jobs.
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