Philadelphia real estate mogul Bart Blatstein, whose Tower Investments possesses the Showboat Hotel in Atlantic City, is no longer sought after after he paid in full a contractor owed over $500K.
Lynda Cohen of BreakingAC, a local news source focused on the Jersey Shore, fulfilled its purpose last week by reporting that New Jersey Courts Civil Presiding Judge John Porto had issued a warrant for Blatstein’s arrest. The arrest warrant arose after Lee-Way Electrical informed the court that Blatstein had not paid a $532,933.35 bill for electrical services provided at the Boardwalk noncasino hotel resort.
Lee-Way Electrical, located in Landisville, NJ, completed $725K worth of work at the Showboat parking garage and resort. Lawyers representing the electrical contractor stated that payments from Showboat ceased in June 2024 after the firm received approximately $200,000.
Porto’s arrest warrant aimed not to incarcerate the Showboat owner but to ensure his appearance in court. Upon discovering the arrest warrant, Blatstein informed BreakingAC and the Press of Atlantic City that the non-payment was “an oversight,” and that Lee-Way would be compensated “right away.”
Court documents indicate that the outstanding debt of $532,933.35 was resolved. Lee-Way lawyers submitted an update to the court indicating that Blatstein and Tower Investments "started a wire for the amount."
Showboat Achievement
Blatstein is leading efforts to transform Atlantic City into a more attractive spot for nongamblers, corporate gatherings, sports, and families. After purchasing the Showboat in early 2016 for only $23 million, a large property that used to be a casino run by Caesars Entertainment until 2014, the Philadelphia real estate mogul chose to forgo a casino license in favor of converting the property to nongaming.
Securing a casino license would have been challenging since Caesars imposed a deed restriction on the property that barred it from containing slot machines prior to its sale. Although it was speculated that Blatstein might find a way to bypass the deed restriction by splitting the property into new recorded lots, he ultimately maintained his priority on family.
He poured over $100 million into an indoor water park and $7 million into an indoor arcade where the Showboat’s casino slot machines used to echo. However, as news emerged that the contractors responsible for the Island Waterpark hadn’t received payment, and there were cuts to entrance fees and operating hours, speculation circulated in the community that Blatstein’s major investment was not yielding returns.
When questioned by the Press' Wayne Parry, a veteran reporter in Atlantic City, Blatstein responded negatively regarding any financial troubles for the Showboat.
“None whatsoever. We’re having our best year,” Blatstein said.
New Site
Showboat Atlantic City has just unveiled a revamped website featuring the tagline, “Set Sail on an Exciting Getaway for Everyone in the Family.” Visitors to Atlantic City looking for a beachside stay away from the intrusive sounds of slot machines and casino smoke may find the Showboat appealing, since the entire establishment is free from smoke and gambling.
Even without a casino, the Showboat provides numerous entertainment options and activities.
In addition to the Island Waterpark and Lucky Snack Arcade, the latter marketed as the world's largest arcade featuring over 100K square feet of games, which encompasses a go-kart track and mini-golf, the resort's wellness features include the Aura Salon and Spa along with the cutting-edge Showboat Gym.