20-year tax break approved for indoor water park in Atlantic City

A New Jersey agency has approved a 20-year tax break for a $100 million year-round indoor water park to be built next to the former Showboat casino in Atlantic City.

The Casino Reinvestment Development Authority approved designation of the project Tuesday as an entertainment retail district.

That entitles it to an annual rebate of as much as $2.5 million in sales tax generated by it for 20 years. There also will be tax breaks on construction materials used for the project. Philadelphia developer Bart Blatstein owns the Showboat.

20-year tax break approved for water park in Atlantic CityHe says the water park will provide family entertainment in a city that revolves mainly around gambling.