Atlantic City & Philadelphia Developer Provides Atlantic City Update

We had a wide-ranging on-air interview this morning with Atlantic City, New Jersey and Philadelphia, Pennsylvania real estate developer Bart Blatstein, who is the chief executive officer of Tower Investments.

Stockton University President-Emeritus Dr. Harvey Kesselman participated in the hour-long interview and provided value added insights about Stockton University Atlantic City Campus, Blatstein and the resort in general.

Blatstein has been bullish on Atlantic City, New Jersey for many years and has put his money where his mouth is.

Blatstein purchased The Showboat Atlantic City from Stockton University in January, 2016 for $ 23 million at a time when Stockton was having to pay $ 400,000 per-month in carrying costs.

In many ways, Blatstein saved Stockton University from potential financial ruination.

Blatstein made the purchase of Showboat despite knowing that there is a 10-year deed restriction placed on the property … which prohibits it being run as a casino until at least 2026.

Blatstein also development one of the largest game rooms in America, in Lucky Snakes.

Blatstein also imagined and developed one of the largest indoor water parks in American history … a multi-million dollar facility called ISLAND Waterpark.

I asked Blatstein where does he see Atlantic City five years from now.

Blatstein is very optimistic about Atlantic City’s future and recommended investment in Atlantic City real estate.

Blatstein also confirmed that there is a great deal of interest in Atlantic City inlet real estate.

We also discussed Bader Field. Blatstein is still hoping to win the right to implement his mixed use proposal that would consist of housing and other components.

Blatstein was highly professional about his on-air comments, but, advised that a motor speedway and the accompanying proposals of a rival bidder are not the best use of this covered waterfront property.

With New York casinos coming within the next 18 months to 2 years … Atlantic City must up its game in order to be competitive and not lose significant market share.

This is a developing story that we will continue update.