MGM’s Borgata Atlantic City Opens New Tower for 20th Anniversary
MGM Resorts’ $55 million redevelopment of the Borgata casino and resort in Atlantic City, New Jersey, has opened to the public this week.
The Borgata’s former Water Club tower has been completely refurbished, with 40 new suites and full visual rebranding. It will now be known as the MGM Tower at Borgata.
“The remodel spans all aspects of the experience, from arrival to new accommodations, reflecting a contemporary and playful personality with nautical elements inspired by AC’s breath-taking Marina District,” the Borgata said in a tweet announcing the opening.
Atlantic City Whale
The Borgata has been the highest-grossing casino in Atlantic City for many years in a row. First opened in July 2003 by MGM and Boyd Gaming, MGM bought out Boyd’s 50% share in 2016 for $900 million.
Last year, Borgata pulled in $724.4 million in GGR revenue. Its competitors lagged far behind in popularity. Hard Rock Atlantic City, opened in 2018, took in $492.3 million over the same period.
As well as revenues, Borgata was also the most profitable of all Atlantic City casinos in 2022, keeping hold of $140 million in gross profits.
“Atlantic City, given all of the competition and the reawakening of Hard Rock and Ocean, is a highly competitive market. But we’re holding our own,” MGM Resorts International CEO Bill Hornbuckle said on a public company call in 2022.
However, Borgata’s efforts to improve and relaunch a new upgraded hotel tower are evidence it knows it might not have such market dominance for long.
Hornbuckle and Hard Rock CEO Jim Allen have expressed concerns about the effect the three new casino gaming destination licenses in neighboring New York state will have on Atlantic City Casinos.
Atlantic City receives 20% to 30% or more of its revenue from upstate New Jersey and downstate New York, and there’s no doubt it is going to have an impact on this particular market,” Allen said in April this year.
However, MGM is in a better position than Hard Rock on this one, too.
The Borgata is the top dog casino in Atlantic City, and MGM is also one of the two widely regarded favorites for a New York casino license.
It already runs the Empire City Casino in Yonkers. That’s a venue which has limited casino gaming now, but is expected to be grandfathered in as one of three new licenses.
In order to celebrate the 20th anniversary of the Borgata and get ahead of potential competition in New York, MGM has fully played on Atlantic City’s strengths in the redesign of the hotel tower.
Each of the 700 rooms is set out with a seaside blue and white color palette. The hallways are carpeted in abstract patterns reminiscent of waves, and everything is outfitted with the latest amenities and technology.
The real jewel is the Vista Suites. Situated on the corners of each floor, these 40 rooms offer views of saltmarsh and the city on one side, and the Atlantic Ocean coastline on the other.
The Borgata will also host events celebrating 20 years of operation throughout the summer. That includes casino promotions, sports car giveaways, and extra pool parties.