That represents a decline of nearly 16 percent from the same period in 2013.Ĭaesars said the Showboat will remain fully operational until Aug. So far this year, the Showboat has taken in $66.2 million from gamblers, ranking it seventh out of Atlantic City's 11 casinos.

But that was down from a profit of nearly $8.5 million in the first quarter of 2013. I'm sorry that the Showboat is shutting down.'įor the first quarter of this year, the Showboat posted a gross operating profit of nearly $2 million. Thursday night, when he revealed that Caesars planned to issue warning notices to Showboat workers that the casino might close, McDevitt called the company's threat to close a profitable casino 'a criminal act.'Īsked at a press conference Friday if he is angry at Caesars Entertainment, which has had a hand in closing two Atlantic City casinos so far this year, Mayor Don Guardian responded that the company is still the largest taxpayer among casinos, adding, 'I'm partnering with the businesses that remain in Atlantic City. 'We sincerely appreciate the service, dedication and professionalism shown by the employees of the Showboat over the years to provide our customers with incredible experiences,' he said. The dynamic in Atlantic City has led us to the difficult but necessary decision to close Showboat.' 'Since 2006, revenue in Atlantic City has declined by more than $3 billion and competition in the city has increased. '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,' he said.

31.Ĭaesars Entertainment told The Associated Press on Friday morning the company will shutter the poorest-performing of its four Atlantic City casinos.ĬEO Gary Loveman said in a statement that the 'difficult decision' is necessary to protect the rest of its business in Atlantic City, where it currently owns four of the 11 casinos. Casino contraction hit Atlantic City for the second time this year, as the parent company of the Showboat Casino Hotel announced Friday it will close the Mardi Gras-themed casino on Aug.

Casino closing atlantic city