'I Can't See It Working': Blatstein's Plan For Showboat Draws Criticism From Casino Analyst
PHILADELPHIA (CBS) -- A Las Vegas-based casino analyst says Philadelphia developer Bart Blatstein's tentative plan to reopen a casino inside the Showboat property in Atlantic City is a bad idea.
Roger Gros, publisher of Global Gaming Business magazine, says Blatstein's decision a few weeks ago to begin the process of applying for a casino license won't serve the town well.
"He hasn't done anything inside to improve the facility itself. He's just offering rooms to rent," Gros said. "There hasn't been any improvement within the facility, so I don't know why he thinks he can he can run a casino profitably when that wasn't the case when it was operated by the largest gaming corporation in America, Caesar's."
Gros says it's more likely one or two casino properties may be forced to close because of market saturation, especially with the expected opening of the Hard Rock and Ocean Resorts casinos on either side of the Showboat.
"I think [Blatstein] is just probably hoping for some spillover from those properties," he said, "and unless he has something special up his sleeve, I can't see it working."
Blatstein's office did not return our request for comment on his Atlantic City plans.
