school purchased the closed Showboat<\/a>, also a former Caesars casino, in late 2014 for $18 million.<\/p>\nStockton planned to reimagine the Showboat into a residential campus, but those plans were blocked by billionaire Carl Icahn, whose neighboring Trump Taj Mahal was part of a deed restriction covenant that prevented the Boardwalk resort from operating as anything other than a casino.<\/p>\n
Icahn said he didn’t want college students living next to his casino, and therefore refused to lift the restriction. In turn, Stockton sought a buyer, and found one in Philadelphia real estate developer Bart Blatstein.<\/strong><\/span><\/p>\nStockton sold the Showboat for $23 million, and Blatstein subsequently reopened the property as a hotel-only facility after Icahn agreed to terminate the deed restriction.<\/p>\n","protected":false},"excerpt":{"rendered":"
New Jersey’s Stockton University is reportedly considering buying the closed Atlantic City Casino Hotel in order to expand its Atlantic City campus. The Press of Atlantic City reports that the school’s board of trustees are meeting this week to discuss a potential acquisition of the Boardwalk property that closed in January of 2014. The media […]<\/p>\n","protected":false},"author":25,"featured_media":85344,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,10,18,13592],"tags":[],"acf":[],"yoast_head":"\n
Stockton University Eyeing Atlantic Club Casino for Campus Expansion<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n