Caesars to Close Showboat Casino in Atlantic City

Saul Loeb/AFP/Getty Images(ATLANTIC CITY, N.J.) — Caesars Entertainment Corp. announced plans Friday to close its Showboat casino in Atlantic City.

The closure comes on the heels of increasing competition in the gambling market, the Wall Street Journal reports.

Showboat is set to be the second casino to shut its doors this year, along with the Atlantic Club that closed in January. Another hotel and casino, Revel, is expected to join the group later this summer.

The area’s gambling revenue peaked at $5.2 billion, according to the Journal, but total numbers for 2013 topped $2.86 billion.


Copyright 2014 ABC News Radio

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