Caesars Entertainment Corp. said on Friday that it would close the Showboat casino-hotel in Atlantic City this summer, dealing another blow to a resort city already reeling from increased competition and a years-long decline in gambling revenue, Dow Jones Daily Bankruptcy Review reported today. Las Vegas-based Caesars cited a continued decline in business in the market, along with what it said was the high property-tax burden in Atlantic City. Showboat will be fully operational until it closes on Aug. 31, and it will honor all room reservations and events until that time, the company said.
