Breaking News - "Hurley" Exclusive: Showboat Casino in Atlantic City has a new owner.

Atlantic City Council President Frank Gilliam has confirmed to me (and given me permission to publicly release) that he has spoken with Developer Bart Blatstein, who has confirmed for my release that Blatstein is purchasing The Stockton University - Showboat Casino.

This is enormously important news. First, Blatstein is an amazing, honorable, and responsible developer. He'll no doubt do something great with it. Second, this will soon remove the choking burden of more than $ 500,000 in monthly carrying costs from Stockton University. Third, it will now allow Dr. Harvey Kesselman to develop what will ultimately be a broad footprint for a Stockton Atlantic City campus. Finally, under Blatstein, the soon former Showboat will become a full service Atlantic City tax ratable.