A College on Atlantic City Boardwalk?

Trump Entertainment simply does not like what is going down on the  Atlantic City Boardwalk. Imagine this… Boardwalk, Ocean, Beach, Gambling and ……. a College?

Trump Entertainment had been a major player in Atlantic City with formerly 3 casinos, but crapped out on 2 of them. Trump Plaza in a prime location shut its doors on Sept 16, 2014 and the Trump Marina sold to the Golden Nugget– (Nice place- you should check it out.) Trump still owns the lavish Taj Mahal so they still do have a foothold here and are very relevant.

So you heard it right – a College on the Atlantic City Boardwalk  and Trump Entertainment is right. What the heck is Atlantic City doing allowing this to go through? If I was a college kid I would say Yes! Mommy, daddy please send me to Stockton College in Atlantic City. However for the Atlantic City, to allow a college/dorm in the old Showboat is simply plain STUPID. Let’s open a college on the Vegas Strip while we are at it.

Trump Entertainment warned Atlantic City it would consider its legal options if the proposed redevelopment plan would prohibit a casino at the old Showboat site. Taj Majal and Showboat are boardwalk neighbors. You can almost hear in now, the Donald’s exclamation “You’re fired!” Not that easy though.

Stockton College bought the property for $18 million in December from Caesars, but the upside is perhaps Glenn Straub may buy it from them and rent back partially. You see Mr. Straub owning this property is really important for the Revel.
One of the issues with Revel was the power bill of $1.25 million per month to its own private power company built with bonds. Now if Straub owns Showboat he can tap into the Atlantic City power grid and save a ton.

In the meantime let’s hope Straub continues to have luck in his plans to bring Atlantic City back from the abyss.

Summer is coming to the Atlantic City Boardwalk  and no matter what the politics are behind the scenes, AC is the best place to be starting now!
A preview of our next post will be online gambling and what you should look at if you want to stay home and play.