At a time when any good news is eagerly welcomed in Atlantic City, Thursday's announcement that Richard Stockton College of New Jersey plans to buy the now-shuttered Showboat Casino was roundly applauded.

But, as they say, the devil is in the details, and details so far about this pending transaction have been few.

But, based on reporting from the Press of Atlantic City and NBC-40 TV, here is what we do know.

- Stockton College has signed a letter of intent with Caesars Entertainment to purchase the 28 acre Showboat complex.  The sale price has not been announced  by Stockton President Herman Saatkamp referred to it as " a spectacular deal".

- Stockton has been interested in adding a satellite campus in Atlantic City for more than a decade

- Saatkamp said plans are to use Showboat's Boardwalk tower as a hotel with about 500 rooms.  The other two towers would be used as dorms, classrooms and for academic use.

- The one-time casino would no longer have a gaming element, as Caesars deed restrictions in the sale would not prohibit gambling

- Showboat's gaming space would now be converted for commercial use.

- Caesars would have no interest in running the hotel, but its possible that Dolce Hotels, the company managing the Stockton Seaview Resort in Galloway might be involved.

- Saatkamp said in a best-case scenario, the hotel could be operational by summer of 2015 and students could be living and attending the new Atlantic City campus by fall of 2015.