Is an Atlantic City casino about to be purchased?

Nick Ribis, Sr., and Nick Ribis, Jr., are touring The Showboat Casino Hotel Atlantic City at this hour.

I have confirmed that The Ribis' have been seen with Caesar's Entertainment Executives walking the property.

I have known Nick Ribis, Sr. for more than 32 years. This much, I'm sure of: Ribis is not visiting The Showboat today to simply have a nice lunch.

Without direct confirmation from Ribis, I am reporting today that it appears that Ribis is preparing to purchase The Showboat Casino Hotel Atlantic City property.

Ribis has been involved with the Atlantic City casino gaming industry since it's inception back in 1978. He is the long-time President and Chief Executive Officer for Trump Hotels and Casino Resorts, when they had 3 separate thriving properties in Atlantic City.

Ribis went on to become Vice Chairman and an owner of both Resorts Atlantic City, Atlantic City Hilton and other Las Vegas casino assets.

Ribis has been a fixture in Atlantic City casino industry for the past 35-plus years, and appears poised to return in the near future. A source in Atlantic City confirmed to me that Ribis' interest in potentially returning to Atlantic City should be taken as a positive sign that he has an optimistic view of the future of the Atlantic City gaming jurisdiction.