APNewsBreak: Caesars Entertainment closing Atlantic City's Showboat casino at end of August
The parent company of Atlantic City's Showboat Casino Hotel said Friday the casino will shut down on Aug. 31.
Caesars Entertainment told The Associated Press on Friday morning the company will shutter the poorest-performing of its four Atlantic City casinos.
CEO 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.
"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.
It will be the second casino to close this year in the nation's third-largest gambling market.
The Atlantic Club closed in January.
And, the Revel Casino Hotel has warned it might shut down if a buyer can't be found in bankruptcy court.
Wayne Parry can be reached at http://twitter.com/WayneParryAC