Showboat, Inc.

Showboat, Inc., a United States-based organization in the casino and entertainment industry, made its initial public offering in 1969. Later that year, Ramada Inns agreed to buy the company for $15 million in stock, but negotiations failed because of conditions set by Houssels, who wanted cash for his 24% stake.

Showboat, Inc. expanded over time, opening Showboat Atlantic City in 1987,Sydney Harbor Casino in 1995, and Showboat Mardi Gras in East Chicago in 1997.

In 1998, Harrah's Entertainment bought Showboat, Inc. for $1.15 billion. 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. They sold Showboat in 2000 for $23.5 million to VSS Enterprises, a group owned by Dan Shaw, Mike Villamor, and Greg Schatzman.

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