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Blatstein Bags Former Showboat For $23M

Philadelphia real estate developer Bart Blatstein completed his acquisition of the former Showboat Casino and hotel in Atlantic City, taking it off the hands of Stockton University for $23M. The school bought Showboat for $18M in late 2014 with plans for a residential campus, but a deed restriction put the kibosh on that plan.

Thus far, Blatstein hasn't announced his plans for the Showboat, which operated from 1987 to 2014, the Philadelphia Business Journal reports, with the hotel component added in 2003. Stockton has recently received preliminary approval for a residential campus on the site of the former Atlantic City High School. [PBJ]

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