Five Atlantic City casinos have closed over the last three years and change, but could the seaside gambling town now be set to get a brand new one?
Press of Atlantic City reports that MGM Resorts International and Caesars Entertainment Corp., which both already own casinos there, are eyeing a jointly-developed casino project.
ATLANTIC CITY, N.J. (December 19, 2019) – MGM Resorts International today announced details of its first-ever MGM Resorts East Coast Poker Tour (ECPT), featuring events at MGM National Harbor, MGM Springfield and Borgata Hotel Casino & Spa in Atlantic City. At one time MGM owned a half interest in Borgata but sold that when AC officials objected to MGM in joint venture with Pansy Ho in Asia. They were given ultimatum to divest one or the other and chose to divest AC. I think closest MGM property is at Tunica where they own the Gold Strike or Biloxi where they own the Beau Rivage. The 2,000 room stylish casino-hotel, located at Renaissance Pointe, presents a destination designed to rival those once found only in cities such as New York City and Las Vegas. After igniting Atlantic City's revival with its 2003 opening as the first new hotel property in 13 years, Borgata has experienced overwhelming popularity and near. In 2009, MGM agreed to sell its 50 percent ownership of the Borgata Casino Hotel and Spa in Atlantic City after New Jersey gaming investigators recommended that Pansy Ho, the company's partner in.
'We are going to be working with our friends at Caesars to find out how we can further move Atlantic City along,' MGMCEO James Murren said during a press conference with Gov. Chris Christie on Thursday. 'It's not going to be easy, but we are up for the challenge.'
Atlantic City's casino industry saw its profits grow by 30 percent in the first quarter of this year. The casinos had revenue of $816.7 million from Jan. 1, 2017 to Mar. 31, 2017, an increase of 1.7 percent compared to the $803.1 million from the same period last year. Casino win accounted for $606.2 million of total revenue, an increase of four percent year-over-year.
Online gaming is booming in the Garden State. Through the end of April, internet gaming revenue of $80.1 million was up 29.5 percent year-over-year from $61.8 million.
Atlantic City gaming win of $2.6 billion in 2016 was up slightly over 2015, and the first time gaming win increased year-over-year in a decade. It was $5.2 billion in 2006.
According to Christie, details on the MGM-Caesars project could be coming in the next few weeks.
MGM's owns Borgata, Atlantic City's top grossing casino.
The announcement comes as Revel, the city's most expensive casino ever built, still sits empty and has no clear path toward reopening. There was good news in March when it was announced that the Trump Taj Mahal, which closed in October, would be taken over by Hard Rock International. The casino could reopen next year after a complete rebranding.
Editor's note: Borgata AC will reopen on July 26 after four-plus months of being closed. This story was written prior to the reopening announcement.
Borgata is Atlantic City's top-performing property.
In 2020, however, the MGM-owned hotel and casino is facing its biggest challenge to date.
Recovering from what will end up being at least a two-plus month shutdown takes serious planning. And this is new territory for Atlantic City casinos.
MGM Resorts International took a big step this week by sharing details of its 'Seven-Point Safety Plan.'
As we prepare for the moment we can re-open our doors, safety is our first priority. That is why we have created comprehensive health and safety protocols outlined in our 'Seven-Point Safety Plan.' Learn more about this important update: https://t.co/4WiwCdQAdfpic.twitter.com/xoXeEGZcJ0
— MGM Resorts (@MGMResortsIntl) May 12, 2020
The full report provides details of the multilayered set of protocols and procedures designed in conjunction with medical and scientific experts. The primary goals are:
- Deter the spread of the coronavirus.
- Protect customers and employees.
- Rapidly respond to potential new cases.
The plan applies to MGM's domestic properties.
Borgata and its 7-point plan
Before the Marina District property doors are unlocked, New Jersey Gov. Phil Murphy will need to give the all-clear.
The exact date is unknown at this point.
While waiting for the return date to be announced, Borgata will be taking preliminary steps to prepare for guests and employees.
Here is a closer look at the plan:
- Screening, temperature checks and employee training.
- Mandatory masks and personal protection equipment (PPE).
- Six-foot physical distancing policy will be in place, wherever feasible.
- Hand-washing and enhanced sanitization.
- Heating ventilation and air conditioning controls and air quality.
- Incident response protocols.
- Digital innovations.
Guests planning to make a summer visit to Borgata will be asked to abide by a self-screening protocol.
This means if a person has been exposed to the coronavirus, the guest is strongly urged to follow the Centers for Disease Control and Prevention (CDC) guidelines for self-quarantine and not travel.
All MGM Resorts employees will be required to wear an approved mask while on the property.
Customers will be strongly encouraged to wear them in public areas. The Borgata will supply them free of charge if needed.
In terms of digital innovation, the Borgata is reimagining the guest experience through technology. This includes contactless options for guests, eliminating or reducing the need for waiting in line.
Five Atlantic City casinos have closed over the last three years and change, but could the seaside gambling town now be set to get a brand new one?
Press of Atlantic City reports that MGM Resorts International and Caesars Entertainment Corp., which both already own casinos there, are eyeing a jointly-developed casino project.
ATLANTIC CITY, N.J. (December 19, 2019) – MGM Resorts International today announced details of its first-ever MGM Resorts East Coast Poker Tour (ECPT), featuring events at MGM National Harbor, MGM Springfield and Borgata Hotel Casino & Spa in Atlantic City. At one time MGM owned a half interest in Borgata but sold that when AC officials objected to MGM in joint venture with Pansy Ho in Asia. They were given ultimatum to divest one or the other and chose to divest AC. I think closest MGM property is at Tunica where they own the Gold Strike or Biloxi where they own the Beau Rivage. The 2,000 room stylish casino-hotel, located at Renaissance Pointe, presents a destination designed to rival those once found only in cities such as New York City and Las Vegas. After igniting Atlantic City's revival with its 2003 opening as the first new hotel property in 13 years, Borgata has experienced overwhelming popularity and near. In 2009, MGM agreed to sell its 50 percent ownership of the Borgata Casino Hotel and Spa in Atlantic City after New Jersey gaming investigators recommended that Pansy Ho, the company's partner in.
'We are going to be working with our friends at Caesars to find out how we can further move Atlantic City along,' MGMCEO James Murren said during a press conference with Gov. Chris Christie on Thursday. 'It's not going to be easy, but we are up for the challenge.'
Atlantic City's casino industry saw its profits grow by 30 percent in the first quarter of this year. The casinos had revenue of $816.7 million from Jan. 1, 2017 to Mar. 31, 2017, an increase of 1.7 percent compared to the $803.1 million from the same period last year. Casino win accounted for $606.2 million of total revenue, an increase of four percent year-over-year.
Online gaming is booming in the Garden State. Through the end of April, internet gaming revenue of $80.1 million was up 29.5 percent year-over-year from $61.8 million.
Atlantic City gaming win of $2.6 billion in 2016 was up slightly over 2015, and the first time gaming win increased year-over-year in a decade. It was $5.2 billion in 2006.
According to Christie, details on the MGM-Caesars project could be coming in the next few weeks.
MGM's owns Borgata, Atlantic City's top grossing casino.
The announcement comes as Revel, the city's most expensive casino ever built, still sits empty and has no clear path toward reopening. There was good news in March when it was announced that the Trump Taj Mahal, which closed in October, would be taken over by Hard Rock International. The casino could reopen next year after a complete rebranding.
Editor's note: Borgata AC will reopen on July 26 after four-plus months of being closed. This story was written prior to the reopening announcement.
Borgata is Atlantic City's top-performing property.
In 2020, however, the MGM-owned hotel and casino is facing its biggest challenge to date.
Recovering from what will end up being at least a two-plus month shutdown takes serious planning. And this is new territory for Atlantic City casinos.
MGM Resorts International took a big step this week by sharing details of its 'Seven-Point Safety Plan.'
As we prepare for the moment we can re-open our doors, safety is our first priority. That is why we have created comprehensive health and safety protocols outlined in our 'Seven-Point Safety Plan.' Learn more about this important update: https://t.co/4WiwCdQAdfpic.twitter.com/xoXeEGZcJ0
— MGM Resorts (@MGMResortsIntl) May 12, 2020
The full report provides details of the multilayered set of protocols and procedures designed in conjunction with medical and scientific experts. The primary goals are:
- Deter the spread of the coronavirus.
- Protect customers and employees.
- Rapidly respond to potential new cases.
The plan applies to MGM's domestic properties.
Borgata and its 7-point plan
Before the Marina District property doors are unlocked, New Jersey Gov. Phil Murphy will need to give the all-clear.
The exact date is unknown at this point.
While waiting for the return date to be announced, Borgata will be taking preliminary steps to prepare for guests and employees.
Here is a closer look at the plan:
- Screening, temperature checks and employee training.
- Mandatory masks and personal protection equipment (PPE).
- Six-foot physical distancing policy will be in place, wherever feasible.
- Hand-washing and enhanced sanitization.
- Heating ventilation and air conditioning controls and air quality.
- Incident response protocols.
- Digital innovations.
Guests planning to make a summer visit to Borgata will be asked to abide by a self-screening protocol.
This means if a person has been exposed to the coronavirus, the guest is strongly urged to follow the Centers for Disease Control and Prevention (CDC) guidelines for self-quarantine and not travel.
All MGM Resorts employees will be required to wear an approved mask while on the property.
Customers will be strongly encouraged to wear them in public areas. The Borgata will supply them free of charge if needed.
In terms of digital innovation, the Borgata is reimagining the guest experience through technology. This includes contactless options for guests, eliminating or reducing the need for waiting in line.
Sorry, no green light yet
With Memorial Day weekend fast approaching, there is a chance the beach will open before the casinos.
The only fact at this point is Borgata is accepting reservations as of June 1. But like with May, there is no guarantee.
As expected, the lack of Atlantic City casino revenue is a crushing blow to the Garden State's bottom line.
April revenue collections have declined nearly 60 percent as compared to last April – an unprecedented $3.5 billion.
These numbers reflect a lot of economic activity from March – including the weeks before we began the systematic shuttering of our greater economy. pic.twitter.com/ctSpPPKrvf
— Governor Phil Murphy (@GovMurphy) May 13, 2020
The post-pandemic recovery process is almost guaranteed to extend into 2021. For now, the road to recovery is the focus.
Like Caesars Entertainmentdid earlier this week, establishing health and safety guidelines provides a head start.
Mgm Resorts Atlantic City
Bill Hornbuckle, the acting CEO and president of MGM Resorts, said the company is putting health and safety at the 'center of everything we do.'
'Our properties will not look the way they used to for a while, and that's not only OK, it's critically important,' said Hornbuckle.
'We will continue providing the hospitality experiences we are known for, but we must do so safely. We will continue working with experts and following guidance from the World Health Organization, Centers for Disease Control and Prevention (CDC) and government officials and regulators as we evolve these protocols based on the latest information.'
Borgata dining and entertainment
If and when Borgata opens in time for the prime summer season, what amenities will be available?
The property includes upscale restaurant concepts from Wolfgang Puck, Bobby Flay and Michael Symon. But as far as the seven-point plan goes, there is a brief mention of dining protocols.
Digital menus will be available to view on personal mobile devices via QR code. Virtual queues will be in place for guests when immediate seating is unavailable. Guests will receive a text message notification when their table is ready.
It doesn't address which places will be open or the seating capacity.
Borgata also has a stacked summer entertainment lineup scheduled for the Event Center and Music Box. Being that the concert industry is currently operating in a virtual-only mode, an update is likely coming soon.
The events calendar is still showing Ken Jeong (July 11) and Jerry Seinfeld (Aug. 8). The latter is rescheduled from April.
Borgata online casino still open
There is little doubt Atlantic City customers are missing casino gambling.
The New Jersey Division of Gaming Enforcement released April numbers late Wednesday afternoon.
Mgm Casino Atlantic City New Jersey
Clearly, the MGM online casino and Borgata online casinoproducts (and other brands operating under the license) are building a following.
The license holder reported $15.8 million in online casino revenue, good enough for an eye-opening 190.5% year-over-year increase.
The number is good enough for third behindGolden Nugget ($27.6 million) and Resorts Digital ($16. million).
And, not surprisingly, the market as a whole earned an all-time high of a tad under $80 million.
It shatters the previous record of $64.8 million set in March.
But to reach its full potential, Borgata needs the land-based casino to be operating simultaneously with the clicks.
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As strong as the online numbers were, the lack of the $53.3 million earned on the gambling floor shows the reality of the shutdown.
With June being a little more than two weeks away, maybe there is uplifting news on the horizon.
