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Live updates: Blatstein says funding for the Showboat waterpark will not be an issue
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Live updates: Blatstein says funding for the Showboat waterpark will not be an issue

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10:45 a.m.: Developer Bart Blatstein said that there should be no issue with funding for the waterpark. 

10:30 a.m. : People are starting to gather for the event. Guest are being treated to mimosas.

ATLANTIC CITY — A groundbreaking for a proposed waterpark at the Showboat Atlantic City hotel will be held Wednesday.

Groundbreaking for the Island Waterpark will be at 10:30 a.m. The park will be built on New Jersey Avenue next to the Showboat.

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The indoor waterpark is expected to occupy 103,000 square feet and will include slides, pools and a lazy river, food and retail outlets, lounge areas and party rooms, Showboat said.

Showboat owner Bart Blatstein has pushed to make the seaside resort more family-friendly amid its numerous casinos and other adult entertainment venues. Last summer, Blatstein opened Lucky Snake, a 100,000-square-foot arcade at the Showboat.

The waterpark is expected to be a year-round attraction, featuring a retractable glass roof for indoor climate control in colder months.

Citigroup Inc. took over in July as the underwriter of the $95 million municipal bond sale to finance the construction of the waterpark. The previous underwriter, Janney Montgomery Scott, was replaced after failing to sell the unrated bonds.

In a presentation to the Atlantic County Improvement Authority in February, Blatstein said the water park would be “best in class” and the first year-round family entertainment resort in Atlantic City.

The Casino Reinvestment Development Authority granted site plan approval for the park in early 2021. The authority also granted the project an Entertainment Retail District designation. As part of the designation, the project will receive $2.5 million per year for 20 years in sales tax rebates.

Contact Eric Conklin:

609-272-7261

econklin@pressofac.com

Twitter @ACPressConklin

Contact Michelle Brunetti Post:

609-272-7219

mpost@pressofac.com

Twitter @michellebpost

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Staff Writer

In my first job after college got paid to read the New York Times and summarize articles for an early online data base. First reporting job was with The Daily Record in Parsippany. I have also worked in nonprofits, and have been with The Press since 1990.

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