Showboat Resort in Atlantic City Hit with Foreclosure Lawsuit

A foreclosure complaint has been filed against Atlantic City's Showboat Resort and its owner, Bart Blatstein. Lender Computershare Trust Co. alleges the property defaulted on a $48.4 million commercial mortgage‑backed securities loan and seeks a sheriff’s sale of part of the complex, including at least 475 guest rooms, the Lucky Snake Arcade and the parking garage.

The lawsuit also cites unpaid contractor claims, with several firms alleging millions of dollars in work on the resort’s waterpark and other facilities. Blatstein says he is negotiating to restructure the debt and expects the resort to remain open while the case proceeds in Atlantic County Superior Court.