A boat with a theater on it that travels to towns putting on shows; also means to show off or try to get attention.
From show + boat. Originally a literal riverboat with a theater (especially on Mississippi). The verb developed from the idea of performing or being theatrical.
Showboats were the streaming services of the 1800s—they brought entertainment and culture to towns in the middle of America that had never seen live theater. Mark Twain wrote about them, and they inspired the famous musical 'Show Boat' which changed American music forever.
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