Industry | |
---|---|
Headquarters | United States |
Parent | Harrah's Entertainment |
Showboat, Inc., a United States-based organization in the casino and entertainment industry, [1] made its initial public offering in 1969. [2] Later that year, Ramada Inns agreed to buy the company for $15 million in stock, [3] but negotiations failed because of conditions set by Houssels, who wanted cash for his 24% stake. [4]
Showboat, Inc. expanded over time, opening Showboat Atlantic City in 1987, [5] Sydney Harbor Casino in 1995, [1] and Showboat Mardi Gras in East Chicago in 1997. [6]
In 1998, Harrah's Entertainment bought Showboat, Inc. for $1.15 billion. [7] Harrah's interests were primarily in the Atlantic City and Chicago markets, however; the Showboat Hotel and Casino in Las Vegas did not fit with the company's strategy. [8] The property was sold in 2000 for $23.5 million to VSS Enterprises, a group owned by Dan Shaw, Mike Villamor, and Greg Schatzman. [9]
Industry | |
---|---|
Headquarters | United States |
Parent | Harrah's Entertainment |
Showboat, Inc., a United States-based organization in the casino and entertainment industry, [1] made its initial public offering in 1969. [2] Later that year, Ramada Inns agreed to buy the company for $15 million in stock, [3] but negotiations failed because of conditions set by Houssels, who wanted cash for his 24% stake. [4]
Showboat, Inc. expanded over time, opening Showboat Atlantic City in 1987, [5] Sydney Harbor Casino in 1995, [1] and Showboat Mardi Gras in East Chicago in 1997. [6]
In 1998, Harrah's Entertainment bought Showboat, Inc. for $1.15 billion. [7] Harrah's interests were primarily in the Atlantic City and Chicago markets, however; the Showboat Hotel and Casino in Las Vegas did not fit with the company's strategy. [8] The property was sold in 2000 for $23.5 million to VSS Enterprises, a group owned by Dan Shaw, Mike Villamor, and Greg Schatzman. [9]