For a casino to stay in competition with others in the region, upgrades and changes have to be made on a regular basis. The Borgata Casino is one in Atlantic City that has continued to do well throughout its 16 year history in New Jersey. The venue offers a wealth of gaming options on-site and has also been quite productive in the online gaming segment. After a recently quality month of stellar revenues, the property has now decided to spend $14 million in renovating the lobby bar as well as over 300 hotel guest suites.
July Earnings
Operated by MGM Resorts, the Borgata Casino won $88 million in July from online gaming, sports betting and land-based operations. The facility was the top earner for the month overall and decided to use some of the revenues to refurbish the property.
The bar located next to the VIP check-in of the hotel will be revamped as well as 312 Fiore suites. The hotel bar should be completed by the end of this month while the hotel project will take until next year to finish up. The hotel project is of course a larger scale and will take time. Exact details of what will be done to the hotel rooms remain a mystery.
According to Marcus Glover, the COO and President of the casino, the core principle of the Borgata is to reinvent their business. Since debuting in 2003, the facility continues to develop an engaging product that guests have come to anticipate. With an enriched hotel product, guests will be able to enjoy an optimal Borgata experience that starts from the moment patrons walk into the door.
For the Borgata, year to date by July, the brand has earned gross gaming revenues of $455 million. This is 50% more than the venues nearest competitor. This is a massive number and shows just how the casino is dominating the competition in New Jersey.
Sportsbook Spending
The announcement of the new refurbishments to take place at the property comes just as short time after the Borgata spent over $12 million to create the new Moneyline Bar & Book and the Level One Cocktail Bar & Lounge. The areas opened in late June, providing even more for visitors to enjoy on-site.
The Moneyline is connected to the Level One Cocktail Bar & Lounge and offers a huge LED video wall that is 40-feet wide and 11.5-fet tall. 17 more displays are located on-site, with screens that are 86-inches or 98-inches in size. There are many ways in which players can watch the latest big game while on-site.
The space provides room for watching sports games as well as placing wagers with cashiers or self-service kiosks. Players can easily unwind along the large bar, watch their favorite teams and place wagers all in one space.
Both areas are part of property growth and development plans for the Borgata. Now with more renovations planned, the property changes are sure to help the brand stay at the top of the pack when it comes to traffic and revenue numbers.
It will be interesting to see in the coming months how the property fares with the new additions. With sports betting booming in New Jersey, players are sure to take advantage of Moneyline during the NFL season. Over the next few months, sports betting numbers will help to determine if the changes were a solid investment for MGM Resorts.
