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Borgata
Borgata Hotel Casino & Spa is a hotel, casino, and spa in Atlantic City, New Jersey. It is owned by Vici Properties and operated by MGM Resorts International. The casino hotel features 2,798 rooms and is the largest hotel in New Jersey. Borgata opened in July 2003 and is the top-grossing casino in Atlantic City.
Borgata was part of a major project in Atlantic City nicknamed "The Tunnel Project", started around 1999. When Steve Wynn planned the Le Jardin in Atlantic City, he wanted to connect a $330 million 2.5-mile (4.0 km) tunnel from the Atlantic City Expressway to the new resort, later named the Atlantic City-Brigantine Connector, which would funnel incoming traffic off the Atlantic City Expressway into the city's marina district. This caused major controversy, as it would cut through a residential neighborhood; competitor Donald Trump sued Wynn for it saying that it was a "driveway" to Wynn's casino. The Tunnel Project did progress, even after Le Jardin was cancelled, and finally opened in 2001.
Borgata opened on July 2, 2003, at 11:45 pm, as a joint venture between MGM Mirage and Boyd Gaming. The main tower - the third tallest building in Atlantic City - is visible from many miles away due to its facade of reflective gold glass. The firms Marnell Corrao Associates of Las Vegas, and Philadelphia’s Bower Lewis and Thrower Architects (BLT) worked on the project.
According to an Atlantic City Weekly article from 2004, Steve Wynn reportedly had visited and toured the Borgata.
In late 2005 and early 2006, Borgata underwent a $200 million casino and retail expansion, and the new wing opened in June 2006. As part of the expansion, Borgata expanded the poker room, becoming the largest in Atlantic City and the second largest in the country. In June 2008, Borgata opened its second hotel, The Water Club.
In early 2010, it was reported that MGM Mirage might sell its ownership share in Borgata. On March 12, 2010, MGM Mirage announced it would sell its stake in Borgata and stop doing business as a gaming licensee in New Jersey. On March 17, 2010, MGM Mirage announced that the New Jersey Casino Control Commission (CCC) approved the settlement agreement between the Company and the New Jersey Division of Gaming Enforcement (DGE) under which the Company would sell its 50% ownership interest in the Borgata.
In September 2014, the CCC reversed its earlier decision and allowed MGM back into the state, after finding that Pansy Ho's role in MGM Macau had been reduced.
MGM agreed in May 2016 to purchase Boyd's 50 percent stake in the Borgata for $900 million in cash and assumed debt. MGM then sold the property to its affiliated real estate investment trust, MGM Growth Properties, for $1.18 billion and leased it back. The sale to MGM Resorts was completed in August 2016.
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Borgata
Borgata Hotel Casino & Spa is a hotel, casino, and spa in Atlantic City, New Jersey. It is owned by Vici Properties and operated by MGM Resorts International. The casino hotel features 2,798 rooms and is the largest hotel in New Jersey. Borgata opened in July 2003 and is the top-grossing casino in Atlantic City.
Borgata was part of a major project in Atlantic City nicknamed "The Tunnel Project", started around 1999. When Steve Wynn planned the Le Jardin in Atlantic City, he wanted to connect a $330 million 2.5-mile (4.0 km) tunnel from the Atlantic City Expressway to the new resort, later named the Atlantic City-Brigantine Connector, which would funnel incoming traffic off the Atlantic City Expressway into the city's marina district. This caused major controversy, as it would cut through a residential neighborhood; competitor Donald Trump sued Wynn for it saying that it was a "driveway" to Wynn's casino. The Tunnel Project did progress, even after Le Jardin was cancelled, and finally opened in 2001.
Borgata opened on July 2, 2003, at 11:45 pm, as a joint venture between MGM Mirage and Boyd Gaming. The main tower - the third tallest building in Atlantic City - is visible from many miles away due to its facade of reflective gold glass. The firms Marnell Corrao Associates of Las Vegas, and Philadelphia’s Bower Lewis and Thrower Architects (BLT) worked on the project.
According to an Atlantic City Weekly article from 2004, Steve Wynn reportedly had visited and toured the Borgata.
In late 2005 and early 2006, Borgata underwent a $200 million casino and retail expansion, and the new wing opened in June 2006. As part of the expansion, Borgata expanded the poker room, becoming the largest in Atlantic City and the second largest in the country. In June 2008, Borgata opened its second hotel, The Water Club.
In early 2010, it was reported that MGM Mirage might sell its ownership share in Borgata. On March 12, 2010, MGM Mirage announced it would sell its stake in Borgata and stop doing business as a gaming licensee in New Jersey. On March 17, 2010, MGM Mirage announced that the New Jersey Casino Control Commission (CCC) approved the settlement agreement between the Company and the New Jersey Division of Gaming Enforcement (DGE) under which the Company would sell its 50% ownership interest in the Borgata.
In September 2014, the CCC reversed its earlier decision and allowed MGM back into the state, after finding that Pansy Ho's role in MGM Macau had been reduced.
MGM agreed in May 2016 to purchase Boyd's 50 percent stake in the Borgata for $900 million in cash and assumed debt. MGM then sold the property to its affiliated real estate investment trust, MGM Growth Properties, for $1.18 billion and leased it back. The sale to MGM Resorts was completed in August 2016.