Caesars may sell Showboat Casino - New York News

Atlantic City

Caesars may sell Showboat Casino

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This file photo shows the Showboat Casino Hotel and its House of Blues nightclub in Atlantic City, N.J. (AP Photo/Wayne Parry) This file photo shows the Showboat Casino Hotel and its House of Blues nightclub in Atlantic City, N.J. (AP Photo/Wayne Parry)
ATLANTIC CITY, N.J. (AP) -

The parent company of Atlantic City's Showboat Casino Hotel said that it would consider selling the property to another casino operator if it made a reasonable offer and could be licensed.

Caesars Entertainment spokesman Gary Thompson said Tuesday that the company has received expressions of interest and will do its due diligence if it receives a reasonable offer. Caesars plans to close the Showboat Aug. 31.

Caesars CEO Gary Loveman said last month that closing Showboat was necessary to protect the rest of its business in Atlantic City. It currently runs four of the city's 11 casinos.

The Showboat posted a gross operating profit of nearly $2 million for the first quarter of this year. But that was down from nearly $8.5 million in the first quarter of 2013.

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