VIDEO: Stockton University Finds a Buyer for Showboat CasinoPosted:
ATLANTIC CITY - The saga of the Showboat continues in Atlantic City, with the announcement that Stockton University has found a buyer for the former casino.
While the University can not release who the buyer is or how much they are paying for the boardwalk front property, NJ.biz reports that the sales agreement is with developer Bart Blatstein, who recently opened Atlantic City's new music and entertainment venue, The Playground.
The University also released an independent report that has details about the December 2014 purchase of the Showboat. They plan to convert the location to a full-service campus and the legal restrictions that stopped those plans in their tracks.
The report doesn't place blame for the failed deal on any one group's shoulders, it does say that the Board of Trustees did not have all of the information needed to make an informed decision.
Former President Herman Saatkamp stepped down amid the showboat controversy and current acting President, Harvey Kesselman is expected to officially be named President.
SNJ Today is a Southern New Jersey news and information source based in Millville, New Jersey that is dedicated to providing current stories related specifically to South Jersey.