Philly Developer Reportedly Looking At AC Casino

By David Madden

ATLANTIC CITY (CBS) -- Could the embattled former Showboat Hotel Casino be getting a new owner? Perhaps.

Published reports from several agencies, including NJ.com, suggest that Philadelphia developer Bart Blatstein is getting ready to take the Showboat off the hands of Stockton University.

You might remember Stockton buying the shuttered facility late last year for $28 million, with dreams of turning it into a hotel and college campus. Enter Trump Entertainment, threatening to enforce a decades old covenant limiting the Showboat's use to a casino.

Developer Glenn Straub had, and lost a deal to step in.

Blatstein, who tried and failed to obtain a casino license in Philadelphia, is developing the former Pier shops in Atlantic City into an entertainment complex. Whether he's ready to move up the boardwalk a bit remains to be seen.

Stockton University declined to comment on the reports. Blatstein could not be reached.