Bill removing Showboat deed restrictions advances
A state Senate panel advanced legislation that would absolve Stockton University of conflicting land covenants on the former Showboat Casino site in Atlantic City.
The Senate’s State Government, Wagering, Tourism and Historic Preservation Committee approved the measure on Thursday.
State Sen. Jim Whelan and Assemblyman says his proposal would state that any covenants or deed restrictions on property held by public entities in the city’s tourism district violate the public interest.
Caesars Entertainment said in statement it strongly opposes the bill saying Stockton University intended to use the property as a satellite campus.
Stockton’s deal with Caesars for $18 million for the Showboat site clashed with a 1988 covenant signed by Showboat, the Trump Taj Mahal and Resorts mandating that Showboat never be used as anything other than a casino.
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