As predicted, Caesars Entertainment Corporation will buy back the pier that sits in front of it’s Atlantic City boardwalk property.
Vulture investor, Bart Blatstein, snagged the property from Caesars a few years ago.
In 2015, Blatstein spent $2.7 million to buy The Pier Shops at Caesars. Plowed millions into it…. and launched the horribly named, Playground Pier.
Playground Pier. At one time also known as Ocean One.
Blatstein couldn’t make a go of it. Started strong, but couldn’t keep up the momentum
Ultimately scared away a majority of retail tenants. Losing the APPLE Store was the last straw. Not even 500 Stockton students could keep APPLE in town.
Blatstein still owns Showboat Hotel, without the gaming part. Bart still trying to get a casino licence. Not gonna be easy in a market that gets tighter every day.
Caesars also owns Harrah’s and Bally’s in Atlantic City. The parent company is preparing to merge with Eldorado Resorts Incorporated.