THE SHOWBOAT is headed for dry dock after a 27-year voyage.
Caesars Entertainment of Las Vegas yesterday made official its plans to close the Atlantic City hotel-casino Aug. 31. In a statement, Gary Loveman, the company's chairman and CEO, said:
"While we regret the impact that this decision will have on our Showboat associates, we believe this is a necessary step to help stabilize our business in Atlantic City and support the viability of our remaining operations in the vicinity.
"Since 2006, revenue in Atlantic City has declined by more than $3 billion and competition in the city has increased. The dynamic in Atlantic City has led us to the difficult but necessary decision to close Showboat."