ATLANTIC CITY -- For a group of Stockton University students, the prospect of the proposed Island Campus at the former Showboat casino is something to fight for.
The students have signs, they have a petition and they even have a hashtag: #SaveOurStoBoat.
"We're here to revitalize the city because we know that this city is struggling under the corporations -- the casinos -- that have just been going bankrupt," said Irvin Moreno-Rodriguez, a 21-year-old graduate student at Stockton University and organizer of the protest. "We're here to tell them that bringing more casinos to Atlantic City is not the answer. We need to be innovative. We need to change."
Their anger is directed at Taj Mahal for its blocking of Stockton University from opening up a campus at the former Showboat casino -- which the university purchased in December for $18 million -- through an agreement dating back to 1988. The 1988 covenant specifies that only a casino resort can open up in the Showboat location.
While the students were protesting Friday on the Atlantic City Boardwalk, an announcement by Stockton University and Polo North Inc. announced the university's backup plan to sell the former Showboat to the company for $26 million if the 1988 agreement cannot be overcome.
In a previous statement, Taj Mahal officials said a college campus doesn't belong next to a casino.
The sale would bring the former Showboat into Polo North Inc.'s eight part, $500 million investment project in Atlantic City -- dubbed the Phoenix Project.
"A warm thank you to the people of Atlantic City for giving both boards the opportunity to work on the transition project," said Glenn Straub, CEO of Polo North, in a statement. "As the name of the project signals, the Phoenix rises out of the ashes to be reborn and will evolve to include diversified collection of projects including eight parts designed to show that the American dream is still alive and well."
According to Herman Saatkamp, president of Stockton University, he believes that a recent Redevelopment Zone plan from the Atlantic City Planning Board and an ordinance from the Atlantic City Council will clear up any legal issues surrounding the 1988 covenant.
While Saatkamp works on overcoming the legal issues in time to open up the Island Campus this summer, the $26 million will sit in escrow for the next 90 days.
"It is my responsibility as president of this university to make decisions in the best interests of Stockton's students, faculty and staff," Saatkamp said in a statement. "I do not take that responsibility lightly and believe I have explored the reasonable avenues available, their risks, and their ramifications.
"In so doing I have consulted with our Board of Trustees, members of the Stockton family, appropriate attorneys, business leaders and elected officials," he added
A court recently approved Straub's $82 million purchase of the neighboring Revel.
The students, however, are clear in what they want as they protest for the Island Campus on a dreary Friday afternoon.
"Stand up, fight back, no more StoBoat under attack," they continue chanting, hoping to bring Stockton University to Atlantic City.
Don E. Woods may be reached at dwoods@southjerseymedia.com. Follow him on Twitter @donewoods1. Find the South Jersey Times on Facebook.