Atlantic City's Showboat: Accusations of Unpaid Millions to Waterpark Constructors
The proprietor of the Showboat Hotel, Bart Blatstein from Tower Investments, is in debt to construction firms and contractors, including Parker Interior Plantscape, allegedly amounting to millions, due to the development of the Atlantic City Boardwalk resort's $100 million waterpark, Island Waterpark. Parker Interior Plantscape claims they are owed $1.8 million related to landscape and irrigation work for the family-oriented attraction.
The defendant in the lawsuit is Blatstein's construction company, Accelerated Construction, which is accused of insolvency and inability to pay debts on time, as per the complaint. The case is set to be heard in Atlantic County Superior Court on July 5.
Parker Interior Plantscape isn't the only company claiming non-payment by Accelerated Construction. The Philadelphia Inquirer reports that at least eight subcontractors have filed construction liens with combined claims totaling approximately $7 million. Blatstein has remained silent on the matter.
Blatstein purchased the Showboat in 2016 for $23 million from Stockton University and had initially planned to apply for a casino license to reintroduce gaming to the resort. However, after deeming that Atlantic City didn't necessitate more slot machines and table games, Blatstein opted for family-friendly options instead.
Blatstein's decision might have been influenced by the deed restriction Caesars Entertainment imposed on the building when it closed the Showboat Hotel & Casino in 2014, preventing the existing structure from being used for casino gambling. However, Blatstein managed to subdivide the Showboat property into five new lots of record and secured preliminary suitability approval for a gaming concession from the New Jersey Division of Gaming Enforcement in 2018 and 2019.
Blatstein placed a bet on drawing more families to the shore with his year-round waterpark attraction, Island Waterpark, which officially opened on July 4, 2023. Unfortunately, the park's first year in operation has not gone as planned due to low attendance. In response, Island Waterpark announced midweek closures from Tuesday through Thursday and scaled back weekend hours, while ticket prices were also dropped.
Despite the price reduction over the winter and spring, general admission prices have returned to $69 for the 2024 summer season, with a 3.8/5-star rating on nearly 900 Google reviews.
