Details emerged over the failed Showboat purchase by Stockton University. It was learned during a hearing by the Senate Budget Committee that the school bought the building without clear title. The Showboat title issue was held up by a 1980’s covenant with Trump Taj Mahal that requires the building to be only a casino. The Trump Taj Mahal was going through bankruptcy and couldn’t give away an asset without court approval. The school is attempting to sell the property to Glenn Straub, who has purchased the Revel property as well. Stockton is now paying $400,000 a month to keep up an empty building right now. The president of the school, Herman Saatkamp, has stepped down from his position citing medical issues.