The utilization of the former Showboat casino was expected to be determined by the City Council but it became clear that the vote was cancelled in the last minute. If the vote had taken place, it would have cast light on the issue about the transformation of the Showboat into a college campus.
The suggested designation of the property as a redevelopment zone would make its usage as a casino venue impossible. Instead, Stockton University will get the green light for establishing a college campus.
If the aforementioned idea is materialized, the casino next door – Taj Mahal, would have no other choice but to put up with the presence of a college nearby.
A representative of Stockton University as well as the City Councilman Rizwan Malik announced that the long-awaited vote that would approve or reject the conversion of the Showboat into a college campus will not go through but they remained tight-lipped as to whether it was cancelled or just postponed.
The conversion of the Showboat into a college campus became a subject to heated debates as Trump Entertainment Resorts referred to a covenant from 1988, under which the Showboat property can be used exclusively for providing gambling products and services of the highest class.
Yesterday, a great number of Stockton students visited the council meeting and they were still hopeful that the voting will take place. After the meeting, some of them commented that their university and the city in general need to make progress and anyone who wants to prevent that progress was determined as “foolish” and “stuck in the past”.
Before yesterday’s meeting, Bob Griffin, Trump Entertainment CEO, announced that the stance of Taj Mahal executives will remain unchanged regardless of the result of the vote.
The reason why they are totally against the establishment of a casino in the area is that they are afraid underaged people will engage in gambling activities and once the violation is revealed, Taj Mahal will have to pay solid fines. Instead, they proposed the college campus to be located in the property where the shuttered Atlantic Club casino used to be.
Stockton officials have been trying to find a suitable building in Atlantic City and use it as a campus for quite some time. Back in 2014, they bought the former Showboat for the amount of $18 million. However, disagreements over the utilization of the property arose.
Meanwhile, Glenn Straub acquired the Showboat and rumor has it he will allow Stockton officials use it for educational purposes.
One of the clauses in the contract between Straub and Stockton University gives the latter the chance to buy the property back within 18 months.
In case the disagreements with Trump Entertainment continue, the matters will most probably be taken to court as Stockton University needs to prepare the site and to welcome the students in the fall.
