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Foreclosure Threat Looms Over Atlantic City’s Showboat
['Eddie Davis']
Lite 96.9 WFPG – South Jersey\'s Best Variety
A foreclosure complaint filed against Atlantic City's Showboat Resort and its owner, Bart Blatstein, has put the future of the Boardwalk hotel and resort in question.
Showboat Resorts' Unpaid DebtIn its filing in Atlantic County Superior Court, the trust company said Blatstein’s company has not made any payments toward the debt in over a year.
The lawsuit also alleges several contractors have filed legal claims against the property for unpaid work.
Showboat Faces Partial ForeclosureThe Philadelphia Business Journal reports that the part of the Showboat included in the foreclosure includes at least 475 guest rooms, the Lucky Snake Arcade, and the parking garage.
Computershare Trust Company is asking the court to approve a sheriff's sale auction for this portion of the Showboat complex.