Opening is still a year away but that didn’t dampen the enthusiasm last week when company and state officials gathered for the topping out ceremony for The Borgata, the first destination resort to be constructed in Atlantic City.
The $1 billion facility, jointly owned by Boyd Gaming Corp. (BYD) and MGM MIRAGE Inc. (MGG), will open on Renaissance Pointe in the summer of 2003.
"We are especially pleased," said Bill Boyd, chairman and CEO of Boyd Gaming, "to report that The Borgata remains on-time and on-budget for its summer 2003 debut." Boyd also lauded the efforts of Boyd executive Bob Boughner, the property’s CEO, for providing the "tremendous discipline and attention to detail" that has characterized the development.
Also underscoring the historic nature of the day was Terry Lanni, chairman and CEO of MGM MIRAGE. He said the importance of the development was notable not only for the two companies involved but also for the Atlantic City community. "When it opens in 2003," Lanni said, "The Borgata will be the first new hotel casino in Atlantic City in 13 years and the largest hotel in the market."
The property will have 2,010 hotel rooms and 120,000 square feet of gaming space. There will be 11 restaurants, 10 retail shops and a variety of entertainment venues."