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Showboat Casino in Atlantic City Bought
Saturday April 4,2015 : SHOWBOAT CASINO REVIVAL?
Revel buyer has also snapped up the shuttered Showboat Casino for $28 million.
Further revelations on Florida property developer Glenn Straub's ambitions in Atlantic City has surfaced over the past 24 hours following his boasts that he has bought troubled land casinos in the region and plans to spend around half a billion dollars on redevelopments.
The Associated Press news agency reports that Straub, who has just bought the $2.4 billion Revel property for the fire-sale price of $82 million, has also acquired the shuttered Showdown Casino next door for a further $28 million.
Owned by Stocktown University, the Showdown fell afoul of title conditions which insist that it be operated only as a casino...and Straub seems OK with this.
The Florida developer told AP that his move to acquire the Showboat from Stockton is the start of a $500 million bid to redevelop Atlantic City called The Phoenix Project.
Straub and Stockton issued a press release Friday saying the move brings Stockton’s plan for a satellite campus at the Showboat under the auspices of The Phoenix Project.
“As the name of the project signals, the Phoenix rises out of the ashes to be reborn and will evolve to include diversified collection of projects including eight parts designed to show that the American dream is still alive and well,” Straub said.
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Yggdrasil Gaming Expanding -
The Swedish online gambling games developer Yggdrasil Gaming is to establish a new parent company and expand its Stockholm office as it bolsters its presence in Sweden with a raft of new hires.
FanDuel and DraftKings Settle With NY Attorney General -
Speculation earlier this week that daily fantasy sports market leaders FanDuel and DraftKings were about to agree a settlement on consumer fraud suits prepared by the New York AG was confirmed Tuesday when a $12 million settlement was announced.
Stan james Now Live With EPOS -
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Singapore Online Gambling Ban Begins -
Singapore media reports indicated Tuesday that restricted online gambling services offered by the Singapore Pools have started online operations, whilst Singapore Turf Club will commence online betting activity on November 15.
Pennsylvania Online Gambling Updates -
Pro-online gambling companies, including the Golden Nugget in New Jersey and Pokerstars, were quick to refute Schippers views based on their operational experience.
WSOPE In Czech Republic -
World Series of Poker Europe 2017 has moved to King’s Casino Rozvadov (KCR) in the Czech Republic following a multi-year deal that will see KCR host numerous WSOP-branded events over the next several years.
BtoBet Partners with AfroBet -
Following the launch in Kenya, Afrobet said it has high hopes for further expansion into East Africa, Tanzania, Uganda and Congo.
Pissed off Tabcorp shareholders -
A significant number of Tabcorp shareholders, led by The Australian Shareholders Association, reportedly objected to proposed hikes in executive pay packages and were unhappy with the company plans for a merger with rival gambling group Tatts.
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