Developer Bart Blatstein may be forced to sell his Island Waterpark at Showboat Hotel.
According to Amy Rosenberg at the Philadelphia Inquirer, Blatstein could owe upwards of $7 million to various contractors who helped build the Atlantic City attraction.
A judge will consider the issue on July 5.
Search filed Atlantic County documents here.
I know nothing about this person but I remember reading that he was suppose to be a good developer for Atlantic City, whatever that meant.
Seems like he may not have been.
Bart Blattstein is a good player in Atlantic City – he took an abandoned Showboat and revived the hotel and added an arcade for family fun, and then invested heavily in the water park for the same reason. For the first time ever, he had a Christmas Tree placed on the boardwalk to attract visitors off-season. These were good plans to attract families, as the proliferation of gambling in other locales and online becomes even more prevalent, AC needs future attractions to bring in visitors. When those 3 casinos in Queens, Yonkers, and the third unknown location get their table games, the stress on AC to attract visitors will be worse. For now, I’ll give Bart the benefit of the doubt that revenues haven’t met expectations and that he has a severe cash flow problem. I, for one, plan on taking my nieces to his new waterpark this coming August (I’m sure we won’t be disappointed), while my wife and her 2 sisters feed money into the slot machines at Ocean, Resorts, and the Hard Rock. Glenn in Brooklyn, NY.
Nothing new. Blatstein has been stiffing contractors forever.