Blatstein Wants $50+ Million in Tax Credits for Showboat Atlantic City Waterpark

Rendering of waterpark at the Showboat Atlantic City.
Rendering. Waterpark at Showboat Atlantic City.

Want a cool waterpark next to Showboat Hotel on the Atlantic City Boardwalk? Just give developer Bart Blatstein $50 mil in tax credits over the next 20 years.

Blatstein also wants tax reductions on construction materials. Never hurts to ask.

Blatstein was recently granted land approval from NJ CRDA, New Jersey Casino Reinvestment Development Authority to build a water park on the former site of Showboat’s beach volleyball courts.

Showboat atlantic city
Rendering.

The Showboat, a non-gambling property, sits in between the two most successful Boardwalk properties; Hard Rock and Ocean Casino.

Philly-based Blatstein acquired Showboat Hotel Casino in January 2016 for $23 million.

A deed restriction was placed by Caesars on the Showboat property. This prohibits Showboat from operating a casino.

Can Atlantic City Attract Families?

The only way Atlantic City can become more family-friendly is to make it safer. Simple as that.

  • Better lighting
  • More cops
  • Enforcing the law
  • Relocate social services out of tourism district.

Blatstein is a strong vulture investor, but weak operator.

Boardwalk Insider

Pier at Caesars was one a great shopping and entertainment destination. Blatstein converted it into Playground Pier which started out big, but died a slow, painful death.

Polar coaster, water parks, etc.

In other CRDA news, the org recently voted to purchase a former strip club. This parcel will soon be deposited into the CRDA ‘land bank’ that typically doesn’t pay local taxes, and is not controlled by local authorities.

One Comment

  1. It was ok to give basspro shops a ten year free lease for the land they are built on let alone a 10 year tax abatement?what have they brought to town except a parking lot for the walk

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