Caesars says it will consider offers for Showboat

Caesars Entertainment Corp. Chairman, CEO and President Gary Loveman (Ethan Miller, 2013 Getty Images)
Caesars Entertainment Corp. Chairman, CEO and President Gary Loveman (Ethan Miller, 2013 Getty Images)
Set Text Size SmallSet Text Size MediumSet Text Size LargeSet Text Size X-Large
Share
Updated: 7/08 12:14 pm

ATLANTIC CITY, N.J. (AP) — The parent company of Atlantic City's Showboat Casino Hotel says that it would consider selling the property to another casino operator if it made a reasonable offer and could be licensed.

Caesars Entertainment spokesman Gary Thompson said Tuesday that the company has received expressions of interest and will do its due diligence if it receives a reasonable offer. Caesars plans to close the Showboat Aug. 31.

Caesars CEO Gary Loveman said last month that closing Showboat was necessary to protect the rest of its business in Atlantic City. It currently runs four of the city's 11 casinos.

The Showboat posted a gross operating profit of nearly $2 million for the first quarter of this year. But that was down from nearly $8.5 million in the first quarter of 2013.

 

©2014 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Share
NEWSCASTS ON DEMAND
WATCH OUR LIVE NEWSCAST

What's On

All content © Copyright 2014 Intermountain West Communications Company. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms of Service.
You may also view our Sitemap

Inergize Digital This site is hosted and managed by Inergize Digital.
Mobile advertising for this site is available on Local Ad Buy.