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Caesars says it will consider offers for Showboat

ATLANTIC CITY (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.

Showboat Casino Hotel in Atlantic City
Showboat Casino Hotel in Atlantic City (AP Photo/Wayne Parry)

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.

(Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed)

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