Caesars closing Atlantic City casino
By Howard Stutz, Las Vegas Review-Journal
Caesars Entertainment Corp. said Friday it would close one of four casinos the Las Vegas-based company operates in Atlantic City, shutting down operations of the Showboat on Aug. 31.
The Showboat will be the second U.S. casino financially strapped Caesars has closed this year. Earlier this month, the company closed Harrah’s Tunica in northern Mississippi.
Caesars is the parent company of Harrah’s Lake Tahoe and Harveys at Stateline.
Caesars has a gaming industry-high $23 billion in long-term debt.
In a statement, Caesars Entertainment Chairman Gary Loveman said the Atlantic City market has lost $3 billion in revenue since 2006 because of competition from neighboring states.