Caesars Entertainment Corporation will be buying a shopping and entertainment pier near to one of its Atlantic City casinos through an undisclosed deal in order to expand the entertainment business. This entertainment pier appears to be linked with Caesars Atlantic City, a luxurious hotel to experience casino gaming. It was refurbished with an investment of $52 million by a Philadelphia based entrepreneur Bart Blatstein; and was reopened as The Playground. It was sold by the Caesar Corporation for $2.7 million five years ago, as per the Associated Press news service’s Tuesday report.
Caesars Entertainment Corporation showcases 1,330-room entertainment place
This deal comes after the subsequent struggle that Blatstein had to go through in order to attract the crowd to the Boardwalk facility. The facility also had high end retails shops like Gucci, Apple store along with nightlife options. The absence of a good parking facility was a huge drawback. Blatstein’s plan to construct a pool on the top overlooking the Atlantic Ocean also failed which further added to the failure of The Playground.
The Associated Press also reports that now Blatstein will be concentrating solely on his Showboat Atlantic City which is a 1,330-room entertainment place. He wishes to bring back gambling to this place after its closure in 2014 as a casino. He may be announcing some new significant ideas regarding it in the future as well. According to Blatstein, it will be a better deal as now he would get more time for his Showboat project. He will be able to focus entirely on it.
Growth of Atlantic City through creating new jobs
Talking about Caesars Entertainment Corporation which is headquartered in Las Vegas, it also possesses Harrah’s Resort AC and Bally’s AC – Caesars Entertainment in the city, New Jersey. The owners had no plans for buying back this facility. It’s because they are presently engaged in a joint venture to allocate a sum of 17.3 billion Dollars with their rival group Eldorado Resorts Incorporation.
A statement through the professionals of Corporate – Caesars Entertainment was released, according to which, the corporation is looking forward to the growth of Atlantic City through creating new jobs and investing capital or even starting an online casino like for example Mr.Green casino or Spinia casino online. The corporation wants to make the Atlantic City even as a paramount origin of entertainment for the Eastern seaboard, and for this, it will be working closely with all its stakeholders as well.
Caesars also owns the London Clubs International family of casinos. Caesars Entertainment Corporation is focused on building loyalty and value with its guests through a unique combination of great service, excellent products, unsurpassed distribution, operational excellence, and technology leadership. Caesars is committed to environmental sustainability and energy conservation and recognizes the importance of being a responsible steward of the environment. For more information, please visit www.caesars.com.
