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Atlantic City’s Showboat casino to close

The Showboat Casino Hotel and its House of Blues nightclub in Atlantic City, N.J., from Oct. 26, 2011.

Wayne Parry/AP

The parent company of Atlantic City's Showboat Casino Hotel said Friday the casino will shut down on Aug. 31.

Caesars Entertainment told The Associated Press on Friday morning the company will shutter the poorest-performing of its four Atlantic City casinos.

CEO Gary Loveman said in a statement that the "difficult decision" is necessary to protect the rest of its business in Atlantic City, where it currently owns four of the 11 casinos.

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"While we regret the impact that this decision will have on our Showboat associates, we believe this is a necessary step to help stabilize our business in Atlantic City and support the viability of our remaining operations in the vicinity," he said.

It will be the second casino to close this year in the nation's third-largest gambling market.

The Atlantic Club closed in January.

And, the Revel Casino Hotel has warned it might shut down if a buyer can't be found in bankruptcy court.

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