A South Jersey university plans to make a big splash
along Atlantic City’s struggling boardwalk.
Richard Stockton College announced Wednesday that it
plans to purchase the defunct Showboat Casino on the Atlantic City Boardwalk.
"Our intent is to engage in a project that enhances
Stockton's educational growth, offerings and cost-containment while at the same
time brings new educational opportunities to Atlantic City," Stockton
College President Herman Saatkamp said in a statement. "Because we are
merely at the letter-of-intent stage and bound by a confidentiality agreement,
it is premature for me to give out any additional information."
Stockton did however reveal that they plan to repurpose
the former gaming hall and resort as a branch campus.
The mardi gras themed casino closed its doors Sunday
after 27 years in business. NBC10's Nefertiti Jaquez reports on how the closure
has created emotional turmoil for Atlantic City residents and workers.
(Published Sunday, Aug 31, 2014)
Other plans for the 28-acre plot of land and
1,425,000-square-foot building will be closely watched following the closure of
not only the Showboat but also three other casinos along AC’s Boardwalk.
“The transformation and revitalization of Atlantic City
requires the addition of a diverse set of reasons for people to come visit,”
said chairman and CEO of Caesars Entertainment Gary Loveman. “I believe the
construction of a Stockton campus there will help to diversify the economy of
the City, which is critical to its future well-being."
Both sides didn’t disclose the financial details of the
deal. They also didn’t say when the deal would be complete.
Source: NBC
Philadelphia
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