The new interim president of Stockton University in Galloway, N.J., says his institution might have acted too quickly on a deal to convert a former Atlantic City casino into a satellite campus.
Harvey Kesselman says Stockton is working to resolve the legal morass that has stalled its proposal to turn the former Showboat casino into an extension of the university.
Asked Wednesday if Stockton might have bitten too quickly in the offer from Caesars Entertainment to buy the Showboat, Kesselman said, “In retrospect, you could draw that conclusion.”
The deal is being blocked by a 1988 legal restriction mandating that the Showboat only be used as a casino.
Former president Herman Saatkamp, who stepped down Tuesday, says he was aware of the restriction, insisting he was told the matter had been resolved.