Recently shuttered resort Showboat Atlantic City has been purchased by Stockton College, who will convert the property into a satellite campus.
The college did not announce the terms of the deal with Caesars Entertainment, who had previously owned the Showboat property. The former resort has 1.4 million square feet of space, and takes up 28 acres on the Atlantic City beachfront. The hotel previously held 1,329 rooms.
Commenting on the deal Stockton College President Herman Saatkamp said, "Our intent is to engage in a project that enhances Stockton's educational growth, offerings and cost-containment while at the same time brings new educational opportunities to Atlantic City. Because we are merely at the letter-of-intent stage and bound by a confidentiality agreement, it is premature for me to give out any additional information."