Showboat, Inc.

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 property did not fit with the company's strategy.[8] They sold Showboat in 2000 for $23.5 million to VSS Enterprises, a group owned by Dan Shaw, Mike Villamor, and Greg Schatzman.[9]

References
  1. "Showboat's Sydney casino". New York Times. September 14, 1995. Retrieved 2012-05-13.
  2. "Showboat stock offering makes successful debut". Wall Street Journal. April 22, 1969. ProQuest 133420998. (subscription required)
  3. "Ramada Inns agrees to buy Showboat Inc. for $15 million stock". Wall Street Journal. December 8, 1969. ProQuest 133343598. (subscription required)
  4. "Ramada, Showboat casino terminate negotiations". Wall Street Journal. February 4, 1970. ProQuest 133450579. (subscription required)
  5. Janson, Donald (March 31, 1987). "12th casino-hotel opens, with 60-lane attraction". New York Times. Retrieved 2012-05-13.
  6. "Showboat casino opens with a bang". Post-Tribune. Indiana: via HighBeam. May 21, 1997. Archived from the original on September 21, 2014. Retrieved 2012-05-13. (subscription required)
  7. Roura, Phil (June 7, 1998). "Showboat latest club in Harrah's hand". New York Daily News. Retrieved 2012-05-13.
  8. "Harrah's in $519 million deal to buy Showboat". New York Times. December 20, 1997. Retrieved 2012-05-13.
  9. Simpson, Jeff (March 24, 2000). "Showboat deal gets approval". Las Vegas Review-Journal. Retrieved 2012-05-13.
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